If you have consumed any news or commentary, in just about any form of media, over the last several years, you have undoubtedly read something about inequality in the United States. You have heard or read about the 1%, and how this segment of the population makes all the money and has all the wealth in the country. You have also learned the gap between the rich and the poor is growing, in both absolute and relative terms.
You know what? This is absolutely correct, and has been for a long time. In fact, I haven’t been able to find a period in our nation’s history when a small percentage of the population didn’t own most everything, and made significantly more than the rest. Unfortunately, there is a lot of truth to the old axiom: “it takes money to make money.” Sure, in America, we like to think if you just work hard enough, you too will be able to reap massive rewards.
That too is true, if you save the fruits of your hard work…Read On…
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.