Friday, December 17, 2010
The Reality Behind Soak the Rich Class Warfare
1. According to a study of Federal Reserve data conducted by NYU professor Edward Wolff, for the nation's richest 1%, inherited wealth accounted for only 9% of their net worth in 2001, down from 23% in 1989. (The 2001 number was the latest available.)
2. According to a study by Prince & Associates, less than 10% of today's multi-millionaires cited "inheritance" as their source of wealth.
3. A study by Spectrem Group found that among today's millionaires, inherited wealth accounted for just 2% of their total sources of wealth.
Labels: Neal Bortz quote; inherited wealth
