Gallup surveyed people on attitudes toward rich people. Here are two very interesting charts that say a lot about the USA.
Chart 1
Why do you think this is the case? With all we hear about the inequality of wealth and the demonization of the One Percenters, this is surprising in that the trend hasn’t changed in the last 22 years. My thought is because most people (i) think some day they could be rich (see below), and (ii) they understand that rich folks earn their money by providing jobs for others. That is, they value our entrepreneurial capitalist system that rewards hard work, brains, and courage, and as a result benefit society.
Chart 2
I think this chart confirms the idea expressed above in that young people are optimistic and want to have the chance to get rich. Notice how that diminishes with age. By late in life, you’ve either made it or you haven’t. I think this is a very healthy statistic where half of our young people believe it is likely that they will be rich.
There are more interesting findings in the survey. Go here to see the entire report.
A rich Class ? Like Rockefeller, Carnegie, Woolworth, Gates, Tiger Woods?
Time was when all these guys were Very poor/poor/middling. They none of them started rich. “Oh but they give it to their (undeserving) families..”
Do they ? Carnegie did not. Rockefeller did. Woolworth has just gone bust.Microsoft is riding high right now, but will it still be around in twenty years? Tiger Woods must coin it while he can – the life of a top flight sportsman is short. And you have to pay a high price for the ladies.
The Class of the rich is like a leaky bucket. You have to keep filling it.
It empties and disperses with time. Meanwhile, their wealth is bound up in their various businesses. You can tax them 100% if you will: then the Government will “own” all their firms. But those firms are already being run as best they can – how will a government wonk be better at it? They already provide jobs, goods and services – how will government jobs, goods and services be better. Oh yes, of course – the jobs will be guaranteed, the pensions will be better, the goods will be better, the services will not be pared back by profit seeking leeches – welcome to the Middle Ages – come winter, starve.