5 ms·
This is simply wrong. Most people are unlikely to reach top 1% for income in any one year of their lifetime. The top 1% for wealth is even a much higher bar t
by throwaway2245 6y ago
This is simply wrong.
Most people are unlikely to reach top 1% for income in any one year of their lifetime.
The top 1% for wealth is even a much higher bar to reach: you need to hold over $10 million. People ain't moving in and out of that bracket very often.
- nlbrown 6y agoThis is my understanding of wealth. I'm not sure where the original commenter you replied to got that notion. If anything it is known that wealth is squandered over generations. As a Sheikh once said 'My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Lamborghini, his son will drive a Lamborghini, but his son will ride a camel'.