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Author: MoeBruin Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 254098  
Subject: Re: OT: Wealth Date: 3/7/2013 12:25 PM
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JLC,

I am all for a mobile society but the problem is that our society is becoming less mobile and more of a pure "class" society.

I like you was able through my life time to see the transformation from my grandparents who started dirt poor, to my parent who were lower middle class to myself who isn't in the top 1% but is in the top 3 or 4%.

However, I am deeply concerned about how much harder it would have been to repeat it today.

For example, I went to school at UCLA. Cost per year when I went there $694 a year. Cost today for in state (w/o room and board) $17,000.

When I started my current job, I had full health coverage and a pension plan. The joke was at my company you might not be able to get rich working there but you can sure retire nice. Today you pay 25% of your health care cost (because it is a good generous company relative to many) but no pension plan at all.

When I started working in my field the Computer and Engineering field was expanding: average raise per employee over that 5 year period about 7%: average raise per executive: 7%. Today average employee: 2% CEO and top executives: 23%. Executive compensation 1982: $1 Million Executive compensation today: $27 million plus unvested stock options.

So I personally am not for anything close to socialism. When my father died, I was able to say at his eulogy that he was able to leave the "American Dream" and he did. I am able to live the "American Dream" and because of all our hard work my children are living the "American Dream". However I really doubt that as many poor immigrants are making it to the top and able to live the American Dream as were when my grandparents started. To me it is important that America continue to be the "land of opportunity" and stop its trend toward being a "class" society.

Moe
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