Reply to Net Worth Disparity among whites and blacks/hispanics

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Actually, most of the 1%ers I know earned their money. Only a couple inherited or are set to inherit.[/quote]
All depends on how you define earned.  For most earned means being paid for you time.  You work 8 hours you get paid for 8 hours.  The only way you can become a 1%er is to be getting a whole bunch of money when your doing nothing.

Let's take a book for example.  You decide to write a book and you spend 8 hours a day for 3 months writing the book.  That's roughly 720 hours of work.  The publisher takes the book, markets it, and it sells 1 million copies.  You get a royalty check for 5 million dollars.  So you basically "earned" $5,000,000 / 720 = $6,944.44 an hour to write the book.  Now if you hired someone to work for you would you pay then $6,944.44 an hour?

Or another more drastic example, the lottery.  You take 15 minutes of your time and go by a lottery ticket with numbers you laboriously pick.  That night they draw the number and you win $250,000,000.  Did you "earn" that money?

Getting money is one thing, earning it is another.  There not the same thing.[/quote]

What a skewed view of "earning" you have.  [/quote]

According to Webster
earn =  to receive as return for effort and especially for work done or services rendered
[/quote]

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