Wealth is often equated to money, but while money is a form of wealth it is not the only form of wealth. A person can have a huge income and because of how the spend it, have no wealth at all. A person can also have no income and because of what they have accumulated have a lot of wealth.
The best definition of wealth is the total amount of assets that a person has. By this definition most people a wealthier than they think, because true wealth includes such immaterial things such a person talents, knowledge and experience. In most cases these can be used to make money one way or another and so have financial value.
Contrary what some people think the total amount of wealth is not constant. It is created and destroyed all the time. However it not Government that creates wealth but individuals working to produces thing, both material and immaterial. Government can redistribute wealth, but they usually end destroying much of it in the process. Government can also destroy wealth by so regulating the means of producing as to reduce the amount of wealth created by a given amount of effort or reduce once profitable type’s efforts to worthlessness.
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