This quote certainly is true today

Monello

Smarter than the average bear
PREMO Member
crooked.jpg
 

Grumpy

Well-Known Member
"When you notice that to produce you need to get permission from those who do not produce anything; when you check that money flows to those who do not deal with goods but with favors; when you realize that many become rich by the bribery and for influence more than by your work and that the laws do not protect you against them, but on the contrary, they are the ones who are protected against you; when you discover that corruption is rewarded and honesty becomes a self-sacrifice, then you can assert, without fear of being wrong, that your society is doomed"

--Ayn Rand
 

Kyle

Beloved Misanthrope
PREMO Member
"When you notice that to produce you need to get permission from those who do not produce anything; when you check that money flows to those who do not deal with goods but with favors; when you realize that many become rich by the bribery and for influence more than by your work and that the laws do not protect you against them, but on the contrary, they are the ones who are protected against you; when you discover that corruption is rewarded and honesty becomes a self-sacrifice, then you can assert, without fear of being wrong, that your society is doomed"

--Ayn Rand
Lifted for FB.
 

Clem72

Well-Known Member
Well, he should know.
One thing the files make clear is that, when Truman succeeded to the presidency, his net worth was fairly negligible. Truman had made very little money prior to becoming a United States senator in 1935 at the age of 50. Truman’s previous occupations included running the family farm in his 20s and early 30s before joining the Army during World War I. After the war, he owned and operated a men’s clothing store in Kansas City. This business failed after three years, leaving Truman with debts that he would spend more than a decade trying to pay down.
.
.
.
In sum, if we disregard the book contract he signed a month after leaving the White House, Truman’s estimate of his net worth when he departed the presidency was approximately $650,000. Simply adjusted for inflation, that $650,000 is equivalent to $6.6 million today. But this latter figure fails to capture the fact that America is a vastly wealthier nation now than it was then. Consider that in 1953, the 99th percentile of household net worth was approximately $125,000. Meanwhile, in 2020, the comparable figure was about $11.1 million. In other words, to be as rich today relative to other Americans as Truman was in 1953, a person would have to have a net worth of around $58 million.
 
Top