Saturday, June 18, 2011

The Top 1% — The Super Rich In America

SEE HERE One of the great things about America is that you can become super-rich if that is what you want to do. The whiners out there seem to think that the rich somehow don't deserve their wealth. The big question I suppose is how do they know that. There are really only very few "super-rich" if you mean folks that have a net worth in the billions. There are a lot of rich-rich, making over a million dollars a year as double income or single income families. There is some idea in people's minds that this is some stable population but that's not true. What is true is that America has more rich than anyplace else because in America most of the wealth is generated in a relatively free market. But from year to year and decade to decade the composition of the rich changes as some people drop out and some new people are added. The only think you have to have to become rich in America is talent and drive. Becoming a millionaire is just not that difficult if that is what you want to do, but you really have to want to do it. Most of the time people can get along quite comfortably with a lot less than that. So unless that's what you want more than anything else (a rather self-destructive goal on the whole) you might not do it. But if you want to, in America, you can.

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