[LearsFool]

The author confuses income with wealth, and vice versa...which makes the rest of the article suspect.

[Jim from C-Town]

The President also confuses income with wealth. Wealth is what someone is worth less liabilities. Income is simply what a person makes in any given period of time.

Some of the wealthiest people in the World make very little income as a percentage of their wealth. Most poor and middle class people make substantially more income every year than they have in wealth.

The wealthy simply have accumulated vast amounts of money.