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Inherited wealth is profoundly un-democratic. More than 70 percent of millionaires inherited their wealth. As time goes on, that percentage increases. Before long we'll be Saudi Arabia, with an interconnected extended family controlling a majority of the nation's resources.
"Second Term Begins With a Sweeping Agenda for Equality," ran the eight-column banner in which The Washington Post captured the essence of Obama's second inaugural. There he declared:
"What binds this nation together ... what makes us exceptional -- what makes us American -- is our allegiance to an idea, articulated in a declaration made more than two centuries ago."
Obama then quoted our Declaration of Independence:
"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty and the pursuit of...
http://www.accountingtoday.com/news/millionaires-self-made-fidelity-wealth-management-63348-1.html
Eighty-six percent of today’s millionaires did not consider themselves to be wealthy while growing up, while only 14 percent said they grew up wealthy.
Of those considered to be self-made millionaires, their top sources of assets included investments, capital appreciation, compensation, employee stock options and profit sharing.