Does someone have to become poor for you to be rich? A Book Review of Dream Hoarders

Does someone have to become poor for you to be rich? A Book Review of Dream Hoarders

Does someone have to become poor for you to become rich?

I recently read Dream Hoarders: How the American Upper Middle Class is Leaving Everyone Else in the Dust , Why that is a Problem, and What to do About It. See it on Amazon:

Dream Hoarders is a book with a good point hidden in a really annoying lecture.

The premise: Because of our society and our culture, the upper middle class is becoming a hereditary station in American life, not the meritocracy we imagine. 

The author’s flaw in logic: In order for poor kids to become rich, rich kids need to become poor. He seems to believe that people cannot become upper middle class unless people …

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hello my name is stormy Peters and I'm gonna talk to you about a book I recently read called dream hoarders so it was really annoying because this book is full of good ideas that I think we should all listen to and understand and think about but it lectured to you the entire book so the author Richard Reeves claims to be middle class upper middle class he's a naturalized citizen in the United States and he claims that the upper middle class is creating a world in which our own children are always going to be the upper middle class and that there's no room for upward and downward mobility in the United States anymore and his solution and the first 70 pages which I almost didn't make it through um seems to be to lecture the upper-middle class and tell us to make sure our kids do not do as well because unless upper middle class kids move down poor kids cannot move up and so he lectures the middle class in the upper middle class and says that we need to stop doing things like calling our friends when our kids need internships and his whole premise seems to be based in the first part of the book seems to be based on the fact that if rich kids don't become poor poor kids cannot become rich and I think he missed the American dream there a little bit the American Dream is that everybody can do well that we're all gonna live in suburbia and you know have two cars per family and two kids in the whole world is gonna be successful and he's the whole first part of his book he bases on saying that some kids have to do poorly so others can do well now luckily for me I'm instead of reading the whole thing in the library after the first 70 pages I put it down for a couple weeks but I picked it back up and he had some better ideas later on in the book I'm so beginning in the book he spends the whole time talking about how people who have it well middle class upper middle class rich people need to make sure that their kids don't do well it's kind of like I got out of it so that poor kids could do better but in the second half of the book he actually gets into how all of us could help poor kids do better and so some of his examples and things that I think most people could get behind were things like better birth control I'm so that people can do family planning in an effective manner birth control hasn't changed a lot over the years and we have children that are born to parents who aren't prepared for them so if we have better birth control everyone could plan their kids better and then they could do better financially because they get make sure they had a job in a career established first if that's what they needed to do and he suggested home visits because early childcare is super important to making sure people do well in life and so you want to make sure his idea of meritocracy isn't he said it should be for kids that all kids should have equal opportunities in life and be equally prepared for them I'm so home visits help kids very young kids get the care that they need and helps parents know what they should be doing and get emotional support he advocated for better teachers and poorer schools and he had a number of ways that we could do that all the ways cost money which totally makes sense and and he wasn't advocating for worst teachers for better kids even just advocating for better teachers for poor kids and making sure that the opportunities to teach in in schools that had more poor kids were just as as good as opportunities and good schools along with that and this one might be controversial but I like it um he wanted to do away with some of our zoning laws so he thinks the world would be better the United States would be better if we had neighborhoods that were much more mixed in that way poor kids would get the same opportunities as kids from wealthier neighborhoods cuz I know the kids from wealthier neighborhoods in the United States and get better schools because they their neighborhoods generate more tax and so their schools get more resources plus the parents and those schools are more likely to do fundraising and have better opportunities for their kids so he said if we could have more less zoning and more mixed neighborhoods and we'd be giving more opportunities to poor kids he also advocating for more affordable College he didn't think that was in the solution of things like 529 savings plans he said all those savings have gone to middle class upper middle class just because of the way they're structured and he said it's a political quagmire to try to do away with that I guess Obama tried to do away with 529s and reached a lot of resistance from upper-middle class um but he thought we could make college more affordable for everybody which would be great for everybody he wanted to do with away with legacy admissions so legacy admissions is where if your parents went to Harvard you're more likely to get Harvard and Harvard is very open about this process so as my alma mater Rice University I think to change that you're gonna have to do that the across the board you know with a law and because I think most people in the United States are very proud of their alma mater and want to see their kids go to the same one so I think that's going to be hard to fight on an individual basis just like the one that I shouldn't call my friends to help find an internship for my children and he also speaking of internships he wanted to see those become more like real jobs and he kinda wanted to ban free internships because those go only to people who can afford to not work for the summer or who can go live in New York City or San Francisco and not work for the summer so he thought if we made internships more like jobs and had minimum wage and had you know pasta anti-discriminatory processes around it we would improve things for everything so that was my super fast super brief summary so of this book which has great ideas in our really annoying package it is only a hundred and fifty five pages long you don't count all the appendix in the back so if you want to read it it's a good read once you get past being annoyed in the beginning maybe I'm know because he was talking about me maybe I'm annoyed because it felt like he was lecturing but I thought if he really wants people to buy into his ideas he could repackage it this is dream hoarders my name is storming Peters if you enjoyed this please put a thumbs up below and subscribe to my channel thank you


  1. I have seen upwardly mobile parents groom and raise their kids from a young age to have a main goal to be "successful" and make a lot of money in life There is nothing wrong with that, HOWEVER, and this is from an average middle class woman, most of us who are not in the upper middle class bracket, including our children, will NEVER have the same opportunities as the top 20%. As a single working mother with a college degree, who got my degree at an older age, I know a lot of what he says in the book to be true because I've seen it going on for many years, since the 1980's, especially in a city like NY, which is where I'm from and have worked for over 35 years as a legal assistant/paralegal. It is true that many upper class professional parents who graduated from Ivy's or top tier private colleges and those who have post graduate degrees (lawyers, Wall St. and those in finance and banking, tech and IT, engineers, CPA's) have way more connections than most average, working class parents do and do get their kids more internships or interviews upon graduation at top companies. I don't include doctors in this as most are in a class by themselves because going to medical school and becoming a doctor take a lot more school, education, hard work, ups and downs as well as a ton of time put in for years before they reap the benefits of all that hard work. The zoning laws do make things worse for the poor and average middle class as well when it comes to affordable housing and public education. Today, it seems there are many who are teachers, cops, firemen, civil service workers, nurses, secretaries, legal assistants, customer service workers, etc. who are struggling to get by in large cities who will never be able to afford the going rate of about $200,000.00 to over $250,000 college tuition for their kids like the top 20% can afford, which is wrong on so many levels. Plus, kids don't want to take on loans that high because they will be in huge debt for years and will never be able to get ahead. It's a vicious cycle for some. At one time, these jobs paid well enough to be able to have a decent life for a family, but not so much anymore. It also seems some of these elite liberals are a bunch of hypocrites as well. They protest and cry the most for social justice for minorities, women and low income families, yet they are the very parents who DON'T want minority & low income kids in their "better" schools.

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