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In Reply to: And people who were in that 91% bracket still lived VERY well [nt] posted by Chris from Lafayette on October 31, 2020 at 11:24:39:
book is that the US (this was published in the Nixon era) contained the largest group of generationally wealthy people; that "royalty" wasn't a European construct any more (its incredible inheritance taxes). The US had the Vanderbilts, Carnegies, Mellons, Rockefellers, etc. whose standing only increased over time.Ironic: one wonders if the Founding Fathers envisioned a ruling class so potent they could push around an easily led electorate (one parties, especially) into having 4 millionaire candidates/presidents in 30 years. Unlike Teddy or Franklin Roosevelt, not a one of 'em did squat for average citizens.
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Follow Ups
- A great book about just how well indeed: "The Rich and the Super Rich." One point in this fine - tinear 10/31/2012:57:38 10/31/20 (2)
- RE: A great book about just how well indeed: "The Rich and the Super Rich." One point in this fine - b.l.zeebub 13:33:26 10/31/20 (1)
- Yup, but it's "fake news" to some to point out the statistical truth. nt - tinear 08:50:21 11/1/20 (0)