The Beauty of Capitalism: Anyone Can Become “Super Rich” in USA
There’s a story by Chrystia Freeland, who is the editor of Thomson Reuters Digital. She has a story in the Atlantic.com magazine: “The 14 Biggest Ideas of the Year,” and I want to focus on what she says here is number three:
“The Rich Are Different From You and Me,” as F. Scott Fitzgerald said in The Great Gatsby. “The rich are always with us, as we learned from the Bette Davis film of that name, released in the teeth of the Great Depression. The most memorable part of that movie was its title — but that terrific phrase turns out not to be entirely true. In every society, some people are richer than others, but across time and geography, the gap between the rich and the rest has varied widely. The reality today is that the rich — especially the very, very rich — are vaulting ahead of everyone else. Between 2002 and 2007, 65 percent of all income growth in the US went to the richest 1 percent of the population.”
Do you still have that sniveling caller who was upset? Did you put him up? Good. Her? Okay, fine.
“Between 2002 and 2007, 65 percent of all income growth in the US went to the richest 1 percent of the population,” like Nancy Pelosi, by the way, we might add. Pelosi’s wealth during the recession has ballooned 62%. This is one thing they never tell you when they do all these stories about the widening gap between the rich and the poor: Who the hell are the rich? Nancy Pelosi and her husband, Paul, their net worth vaulted 62% during the recession. Nancy Pelosi, this caring, big-hearted, compassionate liberal. You never hear about it. “The rise of today’s super-rich,” writes Chrystia Freeland, “is a global phenomenon. It is particularly marked in the United States, but it is also happening in other developed economies like the United Kingdom and Canada.