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I think in America we need financial literacy being promoted better in poor communities.
Yes we need welfare but welfare programs can be limited with how well they can help people. People in many poor communities have money but many don't manage it well. You can go to any housing project and find people wearing $100 Jordans,Ralph Lauren Polo clothes,cars with expensive rims and stereo systems but how many have savings accounts,529 plans for their children's education or other invested money? Welfare is more of a band aid. Financial literacy will benefit the poor long term.
??? I can't imagine what good financial literacy would do me; I score 90% on every financial literacy test I see, except Kiyosaki's - he thinks a person is not financially literate unless they are able to borrow $1 million.
Listen to what democrats and liberals whine about. It's all about helping themselves to someone else's money and they claim they are "caring" for others. That's the liberal lie and we can see through it.
That's why my cost-cutting solutions are far superior to liberal income redistribution.
Yet conservatives reject them. Only thing I can figure is classism.
Here's an example of what I'm talking about with financial literacy in poor communities.
Quote:
That many poor people do not have a bank account—and that few of them understand why this puts them at a disadvantage (let alone other essentials of personal finance)—is at the heart of “the civil-rights issue of the 21st century”, says Mr Bryant. He calls the attempt to help people help themselves out of poverty through financial literacy and economic opportunity the “silver-rights movement”.
I believe if a man puts in the same hard work and works just as hard as anyone else they should get the same result. You can be ambitious, hardworking, keep away from things that hold you back etc. But without the right opportunities, your an ambitious, hardworking poor or homeless person. Lets face it ok, you need to work very hard to be financially successful but the other element is money creates opportunities. Without it your just ambitious and hardworking.
Also I believe this ideal of you are poor because your lazy is unfortunate. I had startted a business about a decade ago that focuses on providing income opportunities for persons who are homeless and want to be productive. We have produced a product that has beaten 95% of corporate products, we have even won more awards. Some of my guys work almost everyday. And you know whats funny is we are the poorest business. Go figure. People rather buy from corporations(rich) then support making a difference.
??? I can't imagine what good financial literacy would do me; I score 90% on every financial literacy test I see, except Kiyosaki's - he thinks a person is not financially literate unless they are able to borrow $1 million.
Maybe you read the wrong book. Yes he does talk about real-estate but to start and understand that rich mans mindset I would start with Cashflow Quadrant or Rich Dad Poor Dad.
I also assume you lay the blame squarely on the individual for their circumstances, with no acknowledgement of things that just happen. OK, I'll give you another scenario, and this doesn't even address the obvious " accident of birth" criterion. You know, the one where if you, by accident of birth, we're born in war torn sub Saharan Africa, it is your fault for not becoming as rich as Bill Gates......but let's leave that aside, because we all know your superlative planning is what got you your current birth situation.
Let's say you're in your fabulous job, when you suddenly get taken seriously sick. Let's say you need a liver transplant. Somehow, your meticulous planning has been unable to ward that off, but hey, sometimes substituting glasses of warm water for whiskey doesn't guarantee prevention.
Needless to say, you can't come to work, so your employer cans you. Before you say that's impossible in your case - and it may well be in your specific case - it is entirely possible for thousands of people. Now that your employer has canned you, you can't get coverage. By the way, I'm assuming you don't approve of the ACA, so we'll have to also assume that you're happy with pre- existing conditions not being covered.
Hmmmm....some planning this is going to have to take!
Bzzzt. Wrong again. As I stated, you can get medical insurance that lasts 364 days a year, it costs next to nothing, and they don't deny based on pre-existing conditions.
And wth does someone born in sub Saharan Africa have to do with the freeloaders in this country?
Bzzzt. Wrong again. As I stated, you can get medical insurance that lasts 364 days a year, it costs next to nothing, and they don't deny based on pre-existing conditions.
And wth does someone born in sub Saharan Africa have to do with the freeloaders in this country?
I take it you're referring to Medicaid? Where could you have gotten "next to nothing" medical insurance without pre-existing condition denial before the ACA?
I should have guessed the accident of birth rhetoric would be way too intellectually challenging for you, and for that I apologize.
What is really happening is globalization is causing incomes of those with similar skill sets to converge. This is great for those workers in developing nations, good for capitalists and not so good for the Western worker.
There is no way to stop this trend without causing the Western worker even more harm.
Once again, the GINI coefficient did not start stagnating in Reagans term but the same year the Great Society programs were passed.
You summed it up quite well.
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Explain please?
