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Re: [Phys-l] slow news day?



You're correct that this really isn't an appropriate forum. I was just reacting to the sort of tongue in cheek comment about the rich and their "hard-earned" wealth. No matter how you define rich, and no matter how people wish to claim that there is an established royalty of rich, the vast majority of the wealthy do in fact work hard. They work hard at things that I have no interest in, but they work hard. Not gonna say anything more here.

Bill


On Jun 23, 2011, at 8:20 AM, William Katzman wrote:

Although this isn't an appropriate forum for this, I do have a beef with the statistics in this. The "wealthy" is poorly defined within these statistical metrics. It seems implied that $1 million of assets is defined as wealthy (with 3.5 million people falling into this category) for the first statistics you quote, but I am unsure of that - I also question whether most people would define that as wealthy when it includes the home of the purchaser - certainly it isn't poor, but it is far from Bill Gates, Oprah Winfrey, or Donald Trump (three people traditionally thought of as wealthy).

Instead of being a journalism article in the Washington Post, it is actually from a book The Millionaire Next Door (The Surprising Secrets of America's Wealthy) that is part of the Washington Post's book section.