I Don't Want To Be Poor!

make money blogging internet millionaireA post by Shoemoney yesterday got me to thinking again about a topic that both amazes me and doesn’t at the same time. Shoe’s post was Millionaires continue to climb in the US as more people go out of work. In it, he talks about how the number of millionaires in the United States has grown over the past years while unemployment continues to bump against the highest levels we’ve seen in years. According to Shoe, in 2010, while the unemployment rate skyrocketed 25% over levels in 2009, the number of millionaires in the U.S. grew by nearly 10%. How crazy is that?!

We’re definitely in one of the most dire economic situations I’ve ever lived through seeing our country in (certainly not the worst we’ve ever seen in the history of the U.S. though). Seems like doom and gloom continues to be pounded into our heads by media outlets and friends at every turn. I’m sure we all have at least one (or more likely dozens) story about someone getting slapped down by the economy over the past 3 years. It hits close to home for a lot of us.

What’s crazy to me though, is while we watch people’s lives get devastated by lost jobs, lost homes, etc., you walk into an Apple Store and it’s wall to wall people from open to close. iPad 2′s are still in high demand. Restaurants, both high and low end, continue to thrive and get packed to the rafters.

The rich continue to get richer and the poor continue to get poorer.

The thought I had while reading the Shoemoney post was amazement at how powerful figuring out how to make money, regardless of what you do (speaking of legal ways of course), really is. It’s amazing that 56% of the United States’ household wealth is controlled by about 10 million people (the millionaires in the U.S.).

One source estimates we will end 2011 with about 10.5 million millionaires in the U.S. That number is expected to nearly double to 20.6 million millionaires by the end of 2020.

Should we really be surprised, though, that the rich keep getting richer? Sure you can argue that they enjoy benefits of wealth others don’t, but the reality is, many of them took advantage of opportunities presented to them and worked their way up from there. The silver spoon argument is a weak one in my opinion.

For those of us who aren’t millionaires, it’s up to us to make it happen. The Internet is a level playing field and awaits those who want to grab hold and make something happen.

When 2020 rolls around, I want to be part of the 20.6 million who are millionaires much more than I’d rather be part of the rest that aren’t!

Originally Posted at blueverse.

5 Responses to I Don't Want To Be Poor!

  1. Eric August 16, 2011 at 7:05 am #

    So your response to this appalling situation is to make sure you are one of the rich by 2020. This is what is wrong with capitalism. Although the rich continue to manipulate everything within their power in order to get richer on the of the hard-working poor and middle-class, the response of too many middle class folks is the aspiration to achieve the powereful position and take part in the exploitation.

  2. Bill Hogate August 16, 2011 at 8:36 am #

    I’m a “conservative,” but I am also concerned about the concentration of wealth in the USA. Look at what is happening in the UK and in Philadelphia. I don’t have a solution. Certainly not redistribution of wealth!

  3. Gary August 16, 2011 at 10:00 am #

    The difference between us and the UK is that they have had a social welfare state in place a generation longer than we have. If we don’t reverse course, we will be training ourselves to rely on the government for everything. Reliance breeds resentment. Almost no one in the US is starving. Ryan is correct when he says it is up to us. Redistribution and the politics of envy is the path to European malaise. Just as the poor will always be with us, so will the rich – get over it.

  4. Jennifer Turner August 16, 2011 at 2:18 pm #

    We pay superanuation for our employees.
    Does American businesses pay super for their workers?

  5. Eric August 17, 2011 at 12:28 pm #

    What is so alarming about redistribution of filthy lucre? If the wealth was fairly distributed in the first place instead of controlled in way that makes the super rich richer, then it wouldn’t require redistribution. This is a great, free country, but with freedom comes responsibility. Part of that responsibility is to prevent exploitation. Businesses today outsource more and more jobs to third world countries to keep costs down so that more profits can be greedily collected by the old-boy network at the top. Then the business complains because a lower or middle class consumer (fighting for his job) buys non-American in order to get some quality for their diminishing dollar.