Quote:
Originally Posted by Mathgod
My belief is that if the rich have access to passive income (and they do, for some of them inordinate amounts), then everyone should have access to some passive income.
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That's the beauty of it, my $10 dollars invested in the S&P index compounds at the same rate as Buffet's $10 million. If you want to get rich, buy assets and invest, you will get rich at the same pace as the billionaires.
Quote:
Originally Posted by Enoch Root
Yeah, no surprises here.
Regardless, there is no doubt that having rich parents is advantageous, but again, what should we do about that? Punish them?
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No, but I thought it was interesting as it quantifies what most assume or believe to be true already. It does indicate that wealth gaps become entrenched, which is what mathgod is arguing (I think) though I do not agree with the proposed solutions. Rather than hoping the government taxes everyone to no advantage, maybe it is a better strategy to become rich.