Galt's Gulch

Forward this to Bernie, Hillary and Barack...

Posted by deleted 8 years, 6 months ago to Economics
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From my friend, Ed...

"Some of the top 1% that Sanders and Clinton say have disproportionate wealth, and Obama says hit the wealth lottery. Oh no, didn’t have a thing to do with prudent savings and investment."
SOURCE URL: http://www.wsj.com/article_email/warren-buffetts-lucky-millionaires-club-1445419800-lMyQjAxMTI1NDI2MTkyMDEyWj

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  • Posted by CircuitGuy 8 years, 6 months ago
    As you say, this article sort-of continues the lottery model. If someone invested $15k in the 70s (that's $50k in today's dollars) and now that investment is worth $1 million, that's not surprising. That's a good solid return over four decades. It's not luck. It's normal, for those who do prudent savings and investment.
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