The Democrat Party describes the “rich” as a permanent class, sort of like barons in Victorian England. This is highly misleading. The Democrat Party wants them to be “a group” (the top 1%) that can be compared to “another group” (the bottom 10%).
Baronial titles were inherited. Before the United States of America showed the world “the way,” nearly all wealth was inherited. This has never been true in America.
One can see that only in China and Russia (previously communists) where there is no “wealth” to be inherited are the percentages smaller than the USA. But nota bene that some of the Democrat Party’s favorite “socialist” democracies have far higher percentages of inherited wealth.
The Democrat Party wants you to think of the “rich” as a group or an entity, not as individuals. But when one looks at the “individuals” who are “the rich,” they are not remotely the same people that were the “rich” 20 years ago or even 5 years ago.
Once “the rich” were shipping magnates. Then the rich were “masters of industry.” Then “the rich” were railroad barons. The railroad barons were followed by “high tech” company owners. Increasingly, “the rich” are “financiers” or stock market moguls. My point is that Americans “followed the money.” If they wanted to “join the rich” they had an opportunity to do so – and more Americans did so that any other nation in the history of the world. So, I ask you, is that a “bad thing?”
The “rich.” when viewed as individuals rather than “an identity” change faster than one can imagine.
1. In the past 30 years 5 different people have held the title of richest person on planet Earth: Bill Gates has been the world’s richest person for 17 of the past 22 years.
2. A record 66 members of the 2016 FORBES Billionaires List are under the age of 40 – ergo they were not part of the “class” the Democrat Party dubs “the rich.” That’s more than triple the number four years ago and a seven-fold increase since 2010. A record 36 of these young billionaires have self-made fortunes.
3. It has been a turbulent year for the world’s wealthy, 198 newcomers added their names to the FORBES Billionaires List in 2016. That means that a large group of prior members DROPPED OFF! Indeed, this past year, 221 billionaires got knocked off the FORBES Billionaires list!
4. Just two of the 20 richest people in the world held on to their rankings this year. Bill Gates is the richest man on the planet for the 17th time in the last 22 years. While Warren Buffett remains the third-richest person in the world, he lost $11.9 billion as shares of his Berkshire Hathaway tumbled 14%.
5. Guess who is the richest person in New York City? Michael Bloomberg holds that spot, taking it from David Koch. Let’s think now. Who is supporting who?
But let us also look at “the poor.” In the United States being “poor” is very different than “being poor” throughout most of the world. Few Americans are “poor” when compared to most of the human inhabitants of the world.
As well, being “poor” in our great nation is better than being “middle class” or better in most of the world.
My friends, this is why the Democrat Party loves “identity politics.” If “the rich” are a permanent class they can use that to their political advantage. But if “non-rich” are becoming “rich,” then that is the “American Dream” come true. And if the previously rich are becoming poor… well, that doesn’t work to further my argument, because they are becoming Democrats!