That may be so, but it says nothing of the tremendously larger
populations of lazy kids of very prosperous families. The two dudes I
had in mind are probably not millionaires; but neither one ever had a
need to really work. The Porsche guy was in his late 30s when he blasted
by me, but still living in his parents' huge home.
> Think of, well say, Elon Musk who seems to come from
> a middle income family, father an engineer of some sort, Bill Gates,
> upper middle income family started his first "company" while he was
> less then 17 years old as he started Traf-O-Data to make traffic
> counters based on the Intel 8008 processor when he was 17. Then we
> have Mark Zuckerberg who started Facebook at the age of 19, And Larry
> Page? Well his father was a professor at a state university.
> And finally poor old Warren Buffett with a paltry 102 billion? Oh
> well, his father was a congressman, but never the less he worked in
> his granddaddy's store and filed his first income tax statement at the
> age of 14.
>
> I could obviously go on... and on, but I do believe I've made my
> point.
You've given some anecdotes. But I think it's obvious that family money
is very advantageous to those who do choose to start their own
businesses, whether it's a software company or a barber shop. But most
of those starting barber shops, concrete driveway companies or the like
don't have a reservoir of parental money to fall back on.
Another very wealthy guy I know inherited a small but very prosperous
business from his father. When his kids graduated college, he opened a
cute little local restaurant that was "run" by the kids. AFAICT, the
objective was just to give his kids something to do. It failed after a
couple years.
I think it's obvious that children of wealthier families have an easier
time accumulating wealth. And that's without even accounting for the
huge tax advantages when stocks are passed on through inheritance.
> As for income disparity, well yes. But why?
>
> After all, every group that has immigrated to the U.S. in any numbers
> has been discriminated against. The Jews, the Irish, The Italians, the
> Polish, the French, even the Whites that didn't go the right church
> and they all seem to have "worked their arse off" and gotten ahead.
>
> As for the Blacks - or whatever the politically correct term is this
> week - well, I mentioned, to Andrew, I think it was, that the
> governors of more then 20 cities in the U.S. are Black and they even
> snuck a president in. For eight years (:-)
I think blacks do have a special problem, in that the Italians, Jews,
Irish, Poles etc. had the option of "passing" - changing their name to
become "more American." That's a lot harder with skin color. But at
least until recently, I think most of those less "English" folks did
suffer discrimination.
I knew of one brilliant man with a very ethnic name in upper management
at a prominent local company. He claimed he would have been vice
president if he had a more "normal" name; and at his funeral, other
upper executives confidentially confirmed that.
I think that situation has improved somewhat, and I think that there are
problems within the cultures of certain ethnic groups that somehow need
to be addressed and improved. But data I've seen indicates that even
those black males who originate from upper class families have a harder
time succeeding in life. I've seen blatant discrimination against black
engineers in the workplace. This is a problem that's a long way from
being solved.
--
- Frank Krygowski