A man bitted a dog

[Shira]

American love stories like the Henry Ford’s one, on people who were poor and became rich “because of their devotion, hard working, innovation etc”. The impression that we get is that everyone could become rich. The matter of the fact is that millions of people took the exact same steps as H.Ford had done, and they did not become H.Ford.
The reality is that the vast majority of rich people are rich because they were born rich and poor people are poor because they were born poor. Yes, there are people, who were born rich and died very rich, but the H.Ford story and similar ones are extremely rare but famous.
Why?
The rich who was born rich and a poor who was born poor are  common but  boring stories – “A dog bitted a man”
But the poor who became rich is rare and exciting – “A man bitted a dog”

[Bono]

If it is praxeologically possible for even one to climb up the ladder, then it is possible for everyone.
some don't. BThat's too bad, but those who do enourmously benefit society anyways.

[opebo]

If it is praxeologically possible for even one to climb up the ladder, then it is possible for everyone.
some don't.

The point is it is not reasonable for the great majority of people to consider being rich as a likely possibility when doing their voting.  Hence, they should vote for an economic system at least as left-wing as, say, Sweden's.

[David S]

American love stories like the Henry Ford’s one, on people who were poor and became rich “because of their devotion, hard working, innovation etc”. The impression that we get is that everyone could become rich. The matter of the fact is that millions of people took the exact same steps as H.Ford had done, and they did not become H.Ford.
The reality is that the vast majority of rich people are rich because they were born rich and poor people are poor because they were born poor. Yes, there are people, who were born rich and died very rich, but the H.Ford story and similar ones are extremely rare but famous.
Why?
The rich who was born rich and a poor who was born poor are  common but  boring stories – “A dog bitted a man”
But the poor who became rich is rare and exciting – “A man bitted a dog”

Not everyone can be as rich as Henry Ford, or Bill Gates or Ross Perot. But in America there are many millions of people who have found a very comfortable existence in the middle class. Also even those who are poor do not necessarily stay that way. It is true that not too many people start off dirt poor and end up rich. But there are many who started off dirt poor and ended up solidly in the middle class and living very comfortable lives.

BTW Opebo I think you just hate America. Did some of your sexual exploits get you exiled to Thailand?

[opebo]

But in America there are many millions of people who have found a very comfortable existence in the middle class.

The middle class was a political creation, caused by liberal policies like unionization, wage and work rules, and redistributive government programs, chiefly in education, housing, and pensions.

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What mobility there used to be from poor to middle-class was largely achievable due to liberal redistributionist social programs in the area of educations - State school and student aid/loans, as well as income-boosting liberal programs like unionization.

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No.  But I do dislike most aspects of America.

[Shira]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

[Bono]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

You better thank heavens George Soros didn't think that way when he was picking apples in Hungary, or the democratic party today would be bankrupt.

[David S]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

You better thank heavens George Soros didn't think that way when he was picking apples in Hungary, or the democratic party today would be bankrupt.

You beat me to the punch on that one Bono. LOL 

Shira my point is that you don't have to be rich to have a good life in America. Contrary to Opebo's convoluted view of reality there are millions of middle class Americans who do very well.

I suppose I should also point out that in America there are probably more rich black people than anywhere else in the world. Most of those came from poor backgrounds. Black athletes and entertainers are mostly from poor backgrounds. Same is true for Condoleezza Rice and Colin Powell.

[Shira]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

You better thank heavens George Soros didn't think that way when he was picking apples in Hungary, or the democratic party today would be bankrupt.

You beat me to the punch on that one Bono. LOL 

Shira my point is that you don't have to be rich to have a good life in America. Contrary to Opebo's convoluted view of reality there are millions of middle class Americans who do very well.

I suppose I should also point out that in America there are probably more rich black people than anywhere else in the world. Most of those came from poor backgrounds. Black athletes and entertainers are mostly from poor backgrounds. Same is true for Condoleezza Rice and Colin Powell.

Again:
The poor who became rich are a tiny minority among the "regular" rich and also a super tiny minority compare to the poor who remain poor.
But they are famous and falsely create the impression that their number is much higher than it really is.

[J. J.]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

Once again, the facts don't support your story. 

Perot started out in life getting admitted to the US Naval Academy (which is free) and working as a commission salesman for IBM.  There was no family wealth.

http://www.infoplease.com/ipa/A0771981.html

Bill Gates family did have some and were possibly upper middle class; both parents worked.  They were not the super rich and their earnings wouldn't guarantee William III would be set for life.

http://www.intris.com/productions/bg/biobill.htm

[opebo]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

Once again, the facts don't support your story. 

Perot started out in life getting admitted to the US Naval Academy (which is free) and working as a commission salesman for IBM.  There was no family wealth.

http://www.infoplease.com/ipa/A0771981.html

Bill Gates family did have some and were possibly upper middle class; both parents worked.  They were not the super rich and their earnings wouldn't guarantee William III would be set for life.

http://www.intris.com/productions/bg/biobill.htm

More Horatio Alger stories.  Gates senior was an attourney, but a millionaire many times over.  The family had been wealthy for generations.

[David S]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

You better thank heavens George Soros didn't think that way when he was picking apples in Hungary, or the democratic party today would be bankrupt.

You beat me to the punch on that one Bono. LOL 

Shira my point is that you don't have to be rich to have a good life in America. Contrary to Opebo's convoluted view of reality there are millions of middle class Americans who do very well.

I suppose I should also point out that in America there are probably more rich black people than anywhere else in the world. Most of those came from poor backgrounds. Black athletes and entertainers are mostly from poor backgrounds. Same is true for Condoleezza Rice and Colin Powell.

Again:
The poor who became rich are a tiny minority among the "regular" rich and also a super tiny minority compare to the poor who remain poor.
But they are famous and falsely create the impression that their number is much higher than it really is.

How many rich black people would you find in Sweden or any of the other socialist states you admire so much? How about "near zero"?

And as I said before you don't have to be rich to have a very comfortable lifestyle in America. Getting to the middle class isn't hard to do.

It sounds like you want the government to make all poor people rich.

[J. J.]

The bottom line:
In order to be rich you should be born to rich parents.


BTW: Unlike H.Ford - R.Perrot and B.Gatez have never been poor.

Once again, the facts don't support your story. 

Perot started out in life getting admitted to the US Naval Academy (which is free) and working as a commission salesman for IBM.  There was no family wealth.

http://www.infoplease.com/ipa/A0771981.html

Bill Gates family did have some and were possibly upper middle class; both parents worked.  They were not the super rich and their earnings wouldn't guarantee William III would be set for life.

http://www.intris.com/productions/bg/biobill.htm

More Horatio Alger stories.  Gates senior was an attourney, but a millionaire many times over.  The family had been wealthy for generations.

Gates the second was an attorney, but not one of "super-lawyers" nor particularly wealthy.  Upper middle class, yes.  But Bill III was raised in a two income household.

As for his father, after 10-12 as an associate, he made partner in 1964 and eventually founded his own firm.  That was a long hall.  Yes, after years of work, he became successful and had some money; that isn't unusual.

http://www.npr.org/programs/npc/2001/010511.wgates.html

BTW, young Bill was 9 years old when his father made partner.  

[○∙◄☻¥tπ[╪AV┼cVê└]

Bill Gates family did have some and were possibly upper middle class; both parents worked.  They were not the super rich and their earnings wouldn't guarantee William III would be set for life.

http://www.intris.com/productions/bg/biobill.htm

He inheirted several million dollars from a rich grandfather.

[Gabu]

Am I the only one who's wondering the following:

Shira, what is your point?

[A18]

Again:
The poor who became rich are a tiny minority among the "regular" rich and also a super tiny minority compare to the poor who remain poor.
But they are famous and falsely create the impression that their number is much higher than it really is.

http://www.ncpa.org/studies/s235/s235.html

A recent study of U.S. millionaires found that 80 percent acquired their wealth in a single generation, without the benefit of inheritances.

You're delusional, you have no clue what you're talking about, and you're wrong as usual, so quit posting this crap.

[J. J.]

Again:
The poor who became rich are a tiny minority among the "regular" rich and also a super tiny minority compare to the poor who remain poor.
But they are famous and falsely create the impression that their number is much higher than it really is.

http://www.ncpa.org/studies/s235/s235.html

A recent study of U.S. millionaires found that 80 percent acquired their wealth in a single generation, without the benefit of inheritances.

You're delusional, you have no clue what you're talking about, and you're wrong as usual, so quit posting this crap.

This was also the point of the work of Thomas R. Dye, a now Professor Emeritas from the University of Florida.  He has been looking at elite behavior and who becomes elite siince the early 1970's.

His conslusion, which have held up for decades was that there was a lot of mobility.  Looking at the lists of who was wealthiest in 1968, 1987 and 2000, he had a very good point.

[○∙◄☻¥tπ[╪AV┼cVê└]

A recent study of U.S. millionaires found that 80 percent acquired their wealth in a single generation, without the benefit of inheritances.

Probably less amoung the super-rich.

[opebo]

A recent study of U.S. millionaires found that 80 percent acquired their wealth in a single generation, without the benefit of inheritances.

Probably less amoung the super-rich.

Correct.  Nowadays, anyone that owns a home in an upper-middle-class neighborhood of the first-world parts of the US is a millionaire.

[○∙◄☻¥tπ[╪AV┼cVê└]

Economic mobility is on the wane

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http://www.yeekyakairforce.com/ollie_byrd_is_the_moth/2005/01/meritocracy-in-america-from-economist.html

[ATFFL]

A recent study of U.S. millionaires found that 80 percent acquired their wealth in a single generation, without the benefit of inheritances.

Probably less amoung the super-rich.

Plese give me a definition for "super-rich."

The billionaire list has recently been heavily slanted toward inheritance with the Walton family fortune being divided among the kids.

[David S]

Not meaning to be to picky on grammar, but what's up with Man "bitted" a dog?

[J. J.]

Not meaning to be to picky on grammar, but what's up with Man "bitted" a dog?

It means Shira titled the thread.

[??????????]

Not meaning to be to picky on grammar, but what's up with Man "bitted" a dog?

It means Shira has rabies, drooling and about to troll.