How to fix America’s wealth inequality: Teach Americans to be cheap

How to fix America’s wealth inequality: Teach Americans to be cheap. “Today, wealth equality is closely tied to income equality. But in the long run, it’s all about thrift, frugality, and saving — in other words, teaching a consumer nation a lesson in cheapness.” We once read about an uneducated parking lot attendant who had accumulated over $500K in assets. Avoiding debt as much as possible is a helpful strategy – it won’t make you Soros rich but it beats the alternative.

Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (11)

  • I DO NOI believe is the redistribution of wealth. At all. In any form. But I will say that our economy is based on spend spend spend, rather than encouraging thriftiness and saving. I also feel that to those who have received much. much is expected. Back in the day, the wealthy (who generally stole SOMEONE blind to get wealthy) also were philanthropists. Big stuff, like libraries, theatres, stadiums, and such, but also small stuff, like scholarships for the poor, providing food and healthcare when needed, etc. If the current wealthy class would go back to doing some charitible and philanthropic work, I don't think there would be near the hatred drummed up against them.

  • Ah yes income inequality. Like the inequality between those that have sixty percent of their income gutted and have to provide for the household from the remainder while the ones we are supposed to feel sorry for have nothing but disposable income because that earlier mentioned sixty percent was confiscated to cover their expenses and fair share.

  • It appears the Tips page is no longer taking entries. Sorry for posting this here, but what I just said.