re: Creating Wealth and the people you know who have it ...

Remember the 36%+ marginal tax rate before the Bush tax cuts? It is coming back and the IRS has done a pretty good job of eliminating tax shelters and investments generating passive losses to offset income over the last decade or so.

I do believe a lot of what the OP said is true. Accumulation of wealth in families is often a factor of time and savings and the 3rd generation behind a couple of generations that have saved and let time work to build their wealth may be more apt to mis-management.