Extreme inequality hurts all of us, even the rich. Studies have shown that the more
unequal a society is the lower life expectancy they have, even the most wealthy have. A partial list of why this is so: * These societies tend to force workers to be further away from their jobs to find affordable housing, meaning they drive more, leading to more carnage on highways. * It makes health care more expensive for someone to access and don't offer sick pay
for many. This means people don't go to doctors, potentially spreading deadly diseases. Or they go in when they really have bad health that is harder to treat, tying up resources
that won't be available for someone having a heart attack or other serious problem * It allows powerful corporations to dump toxic pollution with impunity. True, this mostly
affects poorer people, but we all breath some polluted air & drink polluted water CEOs are already swelled headed egotists enough without repeating the elitist myths that
they somehow singlehandedly "create thousands of jobs". A typical CEO claims they are solely responsible for a company's success. But as soon it goes South, suddenly they discover there are others working there, and those others are solely responsible for a company's woes. And those other poor souls pay the price with mass layoffs.
"The 1996 book The Millionaire Next Door examined the financial habits of millionaires. A key finding was that the path to millionaire status didn’t require a high-paying job."The finding is not even close. That book had laughable bad research. P. 249-250 showed its "research". It used a non random sample of 385 people (!!!). That would mean there is no way you could have any confidence in any of its conclusions.Not saying that its perhaps true that "millionaire status didn’t require a high-paying job." Just that you can't call it a "finding" with the book's shoddy F- grade research.I have read that an estimated 45% of wealth in America is inherited. I would be deeply skeptical of that statement too. It would be extremely difficult to do any kind of rigorous study on the rich.That would require a huge random sample to obtain enough rich people to obtain statistically valid results. Which would be massively expensive.
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Extreme inequality hurts all of us, even the rich. Studies have shown that the more unequal a society is the lower life expectancy they have, even the most wealthy have. A partial list of why this is so: * These societies tend to force workers to be further away from their jobs to find affordable housing, meaning they drive more, leading to more carnage on highways. * It makes health care more expensive for someone to access and don't offer sick pay for many. This means people don't go to doctors, potentially spreading deadly diseases. Or they go in when they really have bad health that is harder to treat, tying up resources that won't be available for someone having a heart attack or other serious problem * It allows powerful corporations to dump toxic pollution with impunity. True, this mostly affects poorer people, but we all breath some polluted air & drink polluted water CEOs are already swelled headed egotists enough without repeating the elitist myths that they somehow singlehandedly "create thousands of jobs". A typical CEO claims they are solely responsible for a company's success. But as soon it goes South, suddenly they discover there are others working there, and those others are solely responsible for a company's woes. And those other poor souls pay the price with mass layoffs.
Post: Peter Cancro from age 14 to 69 covered in oil and vinegar
Link to comment from June 8, 2026
"The 1996 book The Millionaire Next Door examined the financial habits of millionaires. A key finding was that the path to millionaire status didn’t require a high-paying job." The finding is not even close. That book had laughable bad research. P. 249-250 showed its "research". It used a non random sample of 385 people (!!!). That would mean there is no way you could have any confidence in any of its conclusions. Not saying that its perhaps true that "millionaire status didn’t require a high-paying job." Just that you can't call it a "finding" with the book's shoddy F- grade research. I have read that an estimated 45% of wealth in America is inherited. I would be deeply skeptical of that statement too. It would be extremely difficult to do any kind of rigorous study on the rich. That would require a huge random sample to obtain enough rich people to obtain statistically valid results. Which would be massively expensive.
Post: Endowment Lessons
Link to comment from February 21, 2026