<p>As others on the thread have pointed out, income is different from wealth. Henry Louis Gates has written about the long term impact of property ownership in African-American families. Many who are well off today had ancestors who were able to acquire (and hold on to) land right after the civil war.</p>
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<p><a href=“http://www.nytimes.com/2007/11/18/opinion/18gates.html?pagewanted=all[/url]”>http://www.nytimes.com/2007/11/18/opinion/18gates.html?pagewanted=all</a></p>
<p>I am not wealthy enough to live comfortably on the upper east side. However, my children continue to benefit from being the descendants of a family that has owned land more than 200 years. Land ownership created enough income to send generations of children to college and into professions.</p>
<p>I wonder how many really wealthy people (those living high on the hog in Manhattan) come from truly impoverished backgrounds? I wonder how many come from families that have owned land from generations.</p>