Well, I would question the assertion that the vast majority of the richest
Americans made that wealth themselves rather than from inheritance. i think that is actually opposite of the truth.
Ultimately,the wealthy owe their wealth to someone buying what they were selling (generally). That generally depends on a strong and large middle class, which in our country's case is shrinking. Concentration of wealth effects consumer spending which effects our economy.
And actually the last recession has resulted in the wealth gap INCREASING. It is true that poor people did not suffer market and real estate value losses to the magnitude the wealthy did, but those RECOVERED much faster than employment and wages, and the wealthy are able to invest in the low points of a cycle and basically take wealth from the losses of others.
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In response to this post by BocaHoo91)
Posted: 01/30/2019 at 08:14AM