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This ignores the fact that the current system is completely rigged to favor the rich and those with access to wealth. 1. The IRS has admitted that its to hard
by wonderwonder 7y ago
This ignores the fact that the current system is completely rigged to favor the rich and those with access to wealth.
1. The IRS has admitted that its to hard to audit the rich so it goes after poor people instead.
2. Its much easier to take risk if you have a safety cushion. If a rich kid takes a risk and starts a company, often with his parents capital, the worst that happens is he may have to move back in with his parents. If a less wealthy / poor person takes a risk and fails, there is a very real chance of becoming homeless or so entrenched in debt that escape is close to impossible without bankruptcy.
3. For people with no family support and who's parents did not guide them towards college, if they work 2 jobs and each of those jobs pays $15 and somehow work 40 hours a week at both, that's still only 60k a year, completely upending the argument that those who succeed do so only because they work hard. People are not going to be able to start a business, save for retirement and raise a family with that.
4. The rich can use campaign donations and lobbyists to further rig the system in their favor.
This list can go on forever.
I am not saying its impossible to come from nothing and gain great wealth but the odds are very much stacked against you, regardless of the amount of effort you put in.