Quote:
Originally Posted by kane
Meanwhile the top 1% saw their personal wealth increase 232% during that same time period.
I'm not begrudging the top 1%, I'm just pointing out that during a time when the average wage earner wasn't even keeping pace with inflation the richest 1% saw their average income nearly triple.
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It takes money to make money. The top 1% make a lot more then they spend, so they pump back millions of dollars into investments. its a snow ball affect... They pushing down the hill a big snow ball, we pushing down a snow flake. The majority of the population can't afford to invest tons of money or they simply spend more than they make and never have anything to invest. If they depend on their wages alone (from their jobs) then chances are they will never out beat inflation. But if they make more than they spend and they invest the rest, (their money is working for them) they will have a much better chance to out beat inflation.
There will always be the people at the bottom who don't have enough ambition or intelligence to be anything other than a fast food worker. Then there is people who have the ambition and smarts to make decent money. Of those people you need to find the ones who are willing to not spend all of what they make on crap and invest as much as they could.
Just about anyone with intelligence, ambition, and the ability to live modest and not blow it all, can work their way from the bottom to the top. Will they make it to the top 1%, maybe but it could take many many years to do or even a couple generations. But it is possible. IT COMES DOWN TO THE INDIVIDUAL AND THE CHOICES THEY MAKE.