The American Human: Withering Fact: Poor Are Born Poor, Rich Are Born Rich

Sunday, May 6, 2018

Withering Fact: Poor Are Born Poor, Rich Are Born Rich

For your entertainment, enjoy this graph showing the percent of inherited wealth in Europe's big three:

Translation: In France, UK, and Germany, among the wealthy, over half are born that way. Share of inherited wealth in the U.S. is as much as 45%.

Upward mobility? Meritocracy? Not so much. This also explains a more recent phenomenon: The rich go to college, and the not-so-rich go into debt.

When I went to college, I emerged with less than 4 grand in debt. Same school, same percentages today? I'd have finished college owing 80 grand. I shudder...

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My General Principles

1. Civilized societies require the rule of law.
2. Science is my preferred method for examining and understanding reality.
3. Religion is superstition.
4. An educated society is a healthy society.
5. Democratic governments are by their very nature socialist.
6. Market economies are by their very nature capitalist.
7. Markets are not (entirely) efficient or rational and thus require regulation.
8. Don’t confuse politics with public policy.
9. Civil discourse requires rational argument, even if yelling or stomping your feet or name-calling is more fun.
10. If you consider making stuff up a viable tactic, you are disallowed from civil discourse.
11. Puritanism is America’s original sin.
12. Income redistribution is good for society, hoarding is not.
13. Everybody, from time to time, needs help.

About the American Human

The American Human is written by Calvin Ross, a retired teacher who at various points in life has been a musician, woodworker, restaurateur, narrator, English teacher in Japan, novelist, technology journalist, and private tutor to Japanese children here in the U.S.

Happily residing in the wine country of Sonoma County north of San Francisco, Calvin has lived in the Philippines, the Netherlands, and the aforementioned Japan, as well as in Chicago, Colorado, Georgia, and many different towns in California, including, of all places, the Mojave Desert.

Calvin, you may note quickly, is a liberal progressive who doesn't think being called a socialist is all that bad, especially since he sort of would like living in Denmark if it weren't so cold. He blogs because he can.