Reply to Study shows that 350k/year is barely scrapping by as middle class

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Buffett, bezos, & gates, are all self made, not old money.  Your conspiracy theory doesn’t hold up well.  Money certainly tends to influence power, and corruption always has to be fought against.  [/quote]
Bezos and Gates came from VERY wealthy families. [/quote]

Gates went to a private school and his father was a University of Washington professor. I doubt he would have fallen on hard times if Microsoft failed. [/quote]

They weren’t ‘old money’ wealthy which the conspiracy poster argues is running the world.  Look a janitor can spend his life saving and rack up a million dollars to donate.  Similarly, lottery winners usual blow through millions.  It’s is behavior in spending and saving, not conspiring elites, that determines your financial status, for most people born in or who make it to the us.  Take a Dave Ramsey course.  Learn how to discipline yourself.  Stop blaming ‘the system’ or ‘the elites’ or ‘the taxes’ or whatever. [/quote]

It can both be simultaneously true that individuals can improve their situation and that the system is unfairly tilted to benefit some at the expense of many.  Making individual frugal solutions is not a substitute for addressing systemic unfairness.  But Bill Gates had good luck in the gene pool for intelligence, good luck in the family pool for resources (albeit not old money) and the family pool for willingness to spend on education, good luck in timing for his particular skillset and enterprise.  He also had a lot of individual qualities of discipline, imagination and bravery. That he can *win* tells you nothing about the fairness of the system--you need to look at system level data and policy for that. Yes, each of us can do more for self-discipline--it doesn't mean each of us shouldn't also be calling for more justice in the financial system.[/quote]

If the system is skewed toward wealthy why aren’t lottery winners set for life and leaving huge estates to descendants?  Most end up declaring bankruptcy.  Money alone is not the key to unlocking success and freedom. 
bill gates was booksmart, disciplined, and had great parents, yes.  But he was also small, bullied terribly, and extremely introverted.  He didn’t shoot up a high school, instead he founded a company that changed the world.  We all have choices.

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