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Thread: Most Millionaires and Billionaires earned their wealth.

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    Most Millionaires and Billionaires earned their wealth.

    This piece totally destroys the left's mantra, talking point and urban legends about most rich being trust-fund babies having inherited their piles of cash, not by innovation and hard work but by luck of birth

    Turns out nine of the top ten world's richest people are self-made. And the one that inherited was instrumental in restructuring the company and leading to greater success.

    And those piddly-ass millionaires? Turns out for those that DID inherit, the inheritance is a small percentage of their wealth

    There’s a pervasive belief that wealthy people usually inherit their money from a rich uncle or are born with silver spoons in their mouths, but the opposite is actually true.
    In their book The Millionaire Next Door: The Surprising Secrets of America's Wealthy, authors William D. Danko and Thomas J. Stanley note that fewer than 20 percent of millionaires in the US inherited more than 10 percent of their wealth.
    By the way, the article mentions the book The millionaire Next Door, I highly recommend it. You want to see how most of the rich got that way, it's a great source.
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    Salem ac Leporem Lisa's Avatar
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    Re: Most Millionaires and Billionaires earned their wealth.

    Quote Originally Posted by Bullseye View Post
    This piece totally destroys the left's mantra, talking point and urban legends about most rich being trust-fund babies having inherited their piles of cash, not by innovation and hard work but by luck of birth

    Turns out nine of the top ten world's richest people are self-made. And the one that inherited was instrumental in restructuring the company and leading to greater success.

    And those piddly-ass millionaires? Turns out for those that DID inherit, the inheritance is a small percentage of their wealth



    By the way, the article mentions the book The millionaire Next Door, I highly recommend it. You want to see how most of the rich got that way, it's a great source.
    You might want to find a source that doesn't have the bias of libertarians.
    Last edited by Lisa; 12-06-19 at 04:37 PM.
    Condor060 said; Who was talking about Jesus? I posted scriptures from the bible. Try and keep up

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    Re: Most Millionaires and Billionaires earned their wealth.

    Is DJT part of this list?
    Everyone appreciates your honesty, until you are honest with them. Then you are an asshole. ” - George Carlin
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    Re: Most Millionaires and Billionaires earned their wealth.

    Quote Originally Posted by Lisa View Post
    Ypoou might weant to find a source that doesnt have the bias of libertarians.
    Facts, as presented are unbiased. Dems would have the same list. And their bios aren't going to change, either.
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    Salem ac Leporem Lisa's Avatar
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    Re: Most Millionaires and Billionaires earned their wealth.

    Quote Originally Posted by Bullseye View Post
    Facts, as presented are unbiased. Dems would have the same list. And their bios aren't going to change, either.
    They are part of an interdependent and interconnected society and biased econiomic policies that made that level of wealth possible. Taxes are not theft and tax cuts dot n create jobs prosperity in the society. They didn't earn it on their own work.

    To claim that Warren Buffet is a self-made (rags to riches) man is a denial of reality.

    Howard Homan Buffett was an American businessman, investor, and politician. He was a four-term Republican United States Representative for the state of Nebraska. He was the father of Warren Buffett, the famed American billionaire businessman and investor.
    Last edited by Lisa; 12-06-19 at 04:49 PM.
    Condor060 said; Who was talking about Jesus? I posted scriptures from the bible. Try and keep up

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    Re: Most Millionaires and Billionaires earned their wealth.

    It’s no secret that people become rich through ownership rather than labor in this country.

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    Re: Most Millionaires and Billionaires earned their wealth.

    Quote Originally Posted by Lisa View Post
    They are part of an interdependent and interconnected society and biased econiomic policies that made that level of wealth possible.
    Yep, and that's a good thing. The only "bias" is that bias that "hard work, creativity, and determination creates luck".

    Quote Originally Posted by Lisa
    Taxes are not theft and tax cuts dot n create jobs prosperity in the society. They didn't earn it on their own work.
    So, you're against government give aways?
    Obama: High unemployment and slow growth are the new normal
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    Re: Most Millionaires and Billionaires earned their wealth.

    Quote Originally Posted by Napoleon View Post
    It’s no secret that people become rich through ownership rather than labor in this country.
    Nonsense - read the stories of those guys; they labored for a long time to accumulate that wealth.
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    Re: Most Millionaires and Billionaires earned their wealth.

    Quote Originally Posted by Bullseye View Post
    This piece totally destroys the left's mantra, talking point and urban legends about most rich being trust-fund babies having inherited their piles of cash, not by innovation and hard work but by luck of birth

    Turns out nine of the top ten world's richest people are self-made. And the one that inherited was instrumental in restructuring the company and leading to greater success.

    And those piddly-ass millionaires? Turns out for those that DID inherit, the inheritance is a small percentage of their wealth



    By the way, the article mentions the book The millionaire Next Door, I highly recommend it. You want to see how most of the rich got that way, it's a great source.
    According to PolitiFact and others, the top 400 wealthiest Americans "have more wealth than half of all Americans combined."[35][36][37][38] Inherited wealth may help explain why many Americans who have become rich may have had a "substantial head start".[6][7] In September 2012, according to the Institute for Policy Studies, "over 60 percent" of the Forbes richest 400 Americans "grew up in substantial privilege".[8]--https://en.wikipedia.org/wiki/Affluence_in_the_United_States#Top_percentiles_of_ income

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    Re: Most Millionaires and Billionaires earned their wealth.

    Quote Originally Posted by Rexedgar View Post
    Is DJT part of this list?
    See someone about your TDS.
    Obama: High unemployment and slow growth are the new normal
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