The author of The 9.9 Percent: The New Aristocracy That Is Entrenching Inequality and Warping Our Culture is angry. Angry at his grandparents, who lived off a family trust in a Florida enclave, without ever, it seems, generating any societal value or a kind comment to anyone outside their small social circle. And very angry at the 9.9 percent of the title, upper-income folks who do not participate in extreme wealth but, he says, create entrenched inequality by both benefitting from it and creating systems to exclude others from their little paradise.
He makes a number of excellent points: rich people often forget that they got where they are because of family wealth; rich people channel their energy into making sure their children get into the best universities and lucrative occupations that may exclude other children; rich people use political power to arrange society to suit them. But not all rich people, unlike the ones he portrayed, are clueless and exclusionary–and it seems that simple changes such as a different tax system could go a long way in taming the inequality that rich people may enjoy, but is not inescapable.