The 'Self-Made' Myth: Our Hallucinating Rich

Mitt Romney - Caricature (Photo credit: DonkeyHotey)

 New York sept.25, stock advice .- Most really deep pockets, not just Mitt, consider themselves entirely “self-made.” The best evidence of ... The latest top 400, Forbes pronounced last week, “instills confidence that the American dream is still very much alive.”Let’s cut Mitt Romney some slack. Not every off-the-cuff comment the GOP White House hopeful made at that now infamous, secretly taped $50,000-a-plate fundraiser last May in Boca Raton reveals an utterly shocking personal failing. Take, for instance, Mitt’s remark that he has “inherited nothing.” A variety of commentators have jumped on Romney for that line. They’ve pointed out that Mitt, the son of a wealthy corporate CEO, has enjoyed plenty of privilege, everything from an elite private school education to a rolodex full of rich family friends he could tap to start up his business career.

On top of all that, the young Mitt also enjoyed $1 million worth of stock his father threw his way to tide him over until big paydays started arriving.

Not quite “nothing.” But no reason to pick on Mitt either. Most really deep pockets, not just Mitt, consider themselves entirely “self-made.” The best evidence of this predilection to claim “self-made” status? The annual September release of the Forbesmagazine list of America’s 400 richest.

Each and every year Forbes celebrates the billionaires who populate this list as paragons of entrepreneurial get-up-and-go. The latest top 400, Forbes pronounced last week, “instills confidence that the American dream is still very much alive.”

Of America’s current 400 richest, gushes Forbes, 70 percent “made their fortunes entirely from scratch.”  ... Continue to read.

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• The 'Self-Made' Myth and Our Hallucinating Rich (ourfuture.org)
• Mitt Romney and the myth of self-created millionaires | George Monbiot (guardian.co.uk)