They just hate rich people

posted by
December 19, 2010
Cato Institute
by Michael D. Tanner  
Posted in Commentary

"Politicians often divide Americans between 'the rich' and 'working people,' implying that the rich don't work for their money. Complaining about the tax deal, Rep. Jim McDermott (D., Wash.) contemptuously referred to the rich as 'trust-funders,' suggesting that most had done nothing to earn their wealth. But in reality, roughly 80 percent of millionaires in America are the first generation of their family to be rich. They didn't inherit their wealth; they earned it." (12/15/10)  

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