@rbreich I personally know of one who started off quite poor. He was listed at one point by Forbes as one of America’s billionaires under age 30. The Internet dot bomb was really bad for him, as it was for all who bought into the speculation. He is longer a billionaire. Billionaires whose wealth is based on inheritance did not suffer nearly as much loss, if any. That said, inheritance makes little difference if we favor a universal wealth cap, as I do.
I wouldn't lump Taylor Swift in with the billionaires implied, though she is one, and despite a family that would have helped her succeed in life, I do think she made most of her wealth.
@rbreich It is especially frustrating because this country was founded by overthrowing an aristocracy, and here we are 250 years later under the thumb of another aristocracy.
@rbreich where did their billions come from? They came from a nice, stable well behaved society where lots of non-billionaires do unpaid work. Where lots of other non-billionaires do work like nursing, teaching, policing and other kinds of work. The low paid and non paid people keep the society nice, stable and well behaved. Bringing up children and healing, teaching and protecting them, so they can work and be productive adults. The billionaires get to skim off the top because many many many other people are keeping things running well. No one is self made.
@rbreich But, daddy was just trying to enrich the economy of the poor(son0--just as the Republicans Hoped would happen(as long as the son continues with timely donations!)