Monday, April 7, 2014

The Gap Between Rich and Ultra-Rich

CNBC acknowledges something that most people don’t seem to understand:

The top 1 percent isn't doing as well as you think.

Although there's lots of noise about the growing wealth gap between the rich and poor, that isn't the fastest-growing money rift in America. It's between those who are merely rich and the super rich.

The difference between the rich and the super-rich is actually very glaring.  If you’ve ever read The Millionaire Next Door, you’d know that most of the rich tend to be regular people, for the most part.  They simply saved money and made the right investments.  Often times, they are small business owners or top executives in mid-sized companies.

But they also don’t make enough to influence politicians.  Or they simply don’t see a point in it.  Most of the time, they are in a business that has little government influence or regulation.

The super-rich, are a very different bunch.  They are the people who have over 100 million in assets, head the largest companies in the world, and live a life that makes God jealous.  In many cases, they are highly intelligent people, in others, master manipulators.  Whether it is government policy, the stock market, or whatever else they manipulate to gain wealth, they do a pretty good and thorough job.

I don’t envy either.  This is not a statement of contempt.  Yes, I’d like to have a few million dollars in an account somewhere.  But that does not mean I am not content with my current station in life.

It is just amazing to see some acknowledgement from the mainstream media that there is a vast difference between the ultra-rich and the regular rich.  Usually they clump those people together, forgetting the the difference between a millionaire and a billionaire is a much bigger gap than a millionaire and the average American.