The rich earn their money

An interesting report out today.  The rich aren’t people who inherited their wealth or stole it (the liberal view).  Rather

70% of the nation’s big family fortunes are less than 13 years old, according to research and marketing firm The Harrison Group. And the people who amassed them are, first and foremost, entrepreneurs — risk takers for whom wealth is a byproduct of pursuing their passion.

Becoming a millionaire in today’s America is pretty easy.  It just takes self-discipline, hard-work and guts, which explains why a lot of otherwise talented people aren’t rich. 

Is it me or do all these scientific “studies” merely confirm the wisdon of our grandparents or the studies are just plain wrong. 

Meanwhile, the New York Times reports top executive pay has fallen by more than 50% since the Clinton years.  I blame Bush — making the rich poorer!  Of course, the Times spins this as the gap between executive pay and average worker’s wage as widening.

The Pay Gap at the Top

What’s that saying: “better to be unequally rich than equally poor.”  Well, that’s what us capitalist Americans used to say.

(H/T Instapundit)


Comments

  1. Chad, you are to be commended for maintaining your focus on fiscal matters while the rest of the world scrambles to stop amnesty. You won’t get as many comments, because right now nobody cares about executive pay, but we still love ya man and we’re going to be counting on you to explain the costs in terms of entitlements if they ever legalize 20+ million folks!

  2. Thanks John! I appreciate the support.

  3. Hello, did a yahoo search and found this. thanks for the good info

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