Fred
Fred, some facts about the United States and wealth.
Top 1% own 38.1%
Top 96-99% own 21.3%
Top 90-95% own 11.5%
And it gets much uglier as you proceed downward. Bottom 40% of population has 0.2% of all wealth.
You need to read the Wall Street Journal you cited again. It is pretty obvious you did not understand what it meant. It was referring to the total amount of inherited wealth as compared to total wealth. An example, a person inherits $5 million. They invest the money overseas (not of any benefit to this nation) and make $45 million off the investment from inherited wealth. So, only 10% of their wealth is based off inheritance, yet they would not have that money from if not for inheritance. Understand the article now? Again, 70% of all Americans get their money from inheritance. IT takes money to make money.
