Also take into account Gates dropped out of Harvard.
Most successful people went to school. You can't really take into account certain athletes and movie stars, because there aren't that many of them. In general, people who go to school have nearly double the incomes. The world highest paid corporate executives have MBAs from top programs, the leading executives of the government all went to top law schools. Need I cite more examples?
Just because some guy made it without school doesn't mean the average Joe will.
Socialism has more to do with the fact that many are rich and remain undoubtedly so. The wealth is concentrated at the top 5 percent and works somewhat like an inherited club. People such as yourself, give themselves the illusion that if they partake in holding the banner for capitalism and promote and participate ever so patriotically as if in fervor, you too will be at the top. Guess what, you won`t.
As Gore Vidal says, "Socialism for the rich, Capitalism for the poor". Or as George Carlin so eloquently states,
"Its a Big Club, and You [Camel Jockey] ain`t in it!":Socialism for the rich and capitalism for the poor is a classical political-economic argument, stating that in the advanced capitalist societies, what actually happens is that state policies assure that more resources flow to the rich than to the poor, for example in form of transfer payments. The term corporate welfare is widely used to describe the bestowal of favorable treatment to particular corporations by the government. One of the most commonly raised forms of criticism are statements that the capitalist political economy toward large corporations allows them to "privatize profits and socialize losses."
The argument has been raised and cited on many occasions, and the phrase seems to have been first popularized by Michael Harrington's 1962 book The Other America, but he is actually citing Charles Abrams well-known authority on housing. Andrew Young has been cited for calling the U.S. system “socialism for the rich and free enterprise for the poor”, and Martin Luther King, Jr., who was assassinated in 1968, frequently used this wording in his speeches. Since at least 1969, Gore Vidal has used the expression “free enterprise for the poor and socialism for the rich” to describe the U.S. economic policies. In winter 2006/2007, in response to criticism about oil imports from Venezuela, that country being under the leadership of Hugo Chávez, the founder and president of Citizens Energy Corporation Joseph P. Kennedy II countered with a critique of the U.S. system which he characterized as “a kind of socialism for the rich and free enterprise for the poor that leaves the most vulnerable out in the cold”. Also John F. Kennedy, Jr. has become known for expressing to large audiences that America is now a land of “socialism for the rich and brutal capitalism for the poor”.
Economist Dean Baker expressed similar views in his book The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer, in which he pointed out several different policy areas in which government intervention is essential to preserving and enhancing wealth in the hands of a few.
Also Noam Chomsky has criticized the way in which free market principles have been applied. He has argued that the wealthy use free-market rhetoric to justify imposing greater economic risk upon the lower classes, while being insulated from the rigours of the market by the political and economic advantages that such wealth affords. He remarked, "the free market is socialism for the rich—[free] markets for the poor and state protection for the rich."
Arguments along a similar line were raised in connection with the financial turmoil in 2008. With regard to the federal takeover of Fannie Mae and Freddie Mac, Ron Blackwell, chief economist of AFL-CIO, used the expression “Socialism for the rich and capitalism for the poor” to characterize the system. In September 2008, the US Senator from Vermont, Democratic Socialist Bernie Sanders said regarding the bailout of the U.S. financial system: “This is the most extreme example that I can recall of socialism for the rich and free enterprise for the poor”. The same month, economist Nouriel Roubini stated: “It is pathetic that Congress did not consult any of the many professional economists that have presented […] alternative plans that were more fair and efficient and less costly ways to resolve this crisis. This is again a case of privatizing the gains and socializing the losses; a bailout and socialism for the rich, the well-connected and Wall Street”.
Former U.S. Secretary of Labor Robert Reich adapted this phrase on The Daily Show on October 16, 2008: "We have Socialism for the Rich, and Capitalism for everyone else."
