Stories about the so-called “evil rich”, the ever controllinig 1%, are rampant in the news. But the good deeds of the rich, if reported at all, are many times buried in the back pages. Take for example the 3″ x 6″ article published in The New York Times, “Two Cheers for the Malaria Vaccine.” The article reports that $200M was needed to fund pediatric trials for the malaria vaccine that will be administered to impoverished youngsters in third world countries. The Gates Foundation donated the $200M to drive the research to completion. Ten years from now it is likely that millions of healthy youngsters will owe their very lives to the generosity of Bill and Melinda Gates. Elsewhere, 67 of the Forbes 400 [billionaires] have already agreed to follow the leads of Warren Buffett and Bill Gates by pledging one half of their net worth to noble causes.
Certainly the American economy has its drawbacks. Not all people are always treated equally, including small investors. And resources are not always equally distributed. But if you listen to the cries of the “99 percenters” you would think that America is no longer the land of opportunity. In relative terms, America is still at the top of the class in providing both economic opportunity and stability. As mentioned in Stop Acting Rich, 42% of millionaires report having a $0 or a negative net worth at the time that they began working. And again 8 out of 10 millionaires are self made.
Perhaps the 99 percenters should reflect upon The Wall Street Journal article that recently reported on 2 surveys of Chinese millionaires.
. . .almost 60% of high net worth individuals in China had either arranged for or were considering immigration.
And guess what destination ranks #1? The United States. And who can blame them? These people have “increasing concerns. . . about social issues such as China’s one child policy, food safety, pollution, corruption, poor schooling and a weak legal system.”
If the 99 percenters feel that economic and social conditions are so bad in America, they might petition Congress to pass new legislation. This law would enable them to sell their American citizenship to Chinese millionaires who want to immigrate here. In return, these 99 percenters will be compensated with a substantial sum of cash plus Chinese citizenship!