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you could make all poor people millionaires, and they'd be broke within a few years. this is why people are poor, it's called money management. it's not because of the "elite few."
jackpot-winners-just-as-likely-to-go-bust: Personal Finance News from Yahoo! Finance (http://finance.yahoo.com/retirement/article/110553/jackpot-winners-just-as-likely-to-go-bust - broken link)
We all know that some people are poor due to circumstances beyond their control (health, etc). But we also know that millions of people are "poor" because they simply spend more than they should. They lack the self discipline to live within their means and save money. So they end up living a life of debt, constantly fighting payments and paying interest. Some things never change.
We all know that some people are poor due to circumstances beyond their control (health, etc). But we also know that millions of people are "poor" because they simply spend more than they should. They lack the self discipline to live within their means and save money. So they end up living a life of debt, constantly fighting payments and paying interest. Some things never change.
the point here is simple. you can give a poor person a million bucks, and they will remain poor. in 99% of cases, people's habits lead to their financial peril. it's not really debatable. if you take more from high earners and give it to low achievers, it won't help them, and it won't matter.
Quote:
Originally Posted by delusianne
"wealth redistribution" doesnt apply here, does it?
I'm guessing you're referring to Obama and Joe the Plumber's curbside discussion in 2008.
We all know that some people are poor due to circumstances beyond their control (health, etc). But we also know that millions of people are "poor" because they simply spend more than they should. They lack the self discipline to live within their means and save money. So they end up living a life of debt, constantly fighting payments and paying interest. Some things never change.
In addition, many people choose life styles that destroy their ability to be productive, contribute to society and thereby live at the bottom of that society.
If it were possible, it would be interesting to see the percentages of society that:
1. cannot support themselves because of legitimate health problems (not self-induced)
2. are spending more than their income justifies
3. are screwed up because of self-imposed destruction such as drugs and alcohol (which would include the debilitating health use of such causes).
I think the results might be surprising and give us insight as to what destruction the welfare as it exists is causing.
you could make all poor people millionaires, and they'd be broke within a few years. this is why people are poor, it's called money management. it's not because of the "elite few."
jackpot-winners-just-as-likely-to-go-bust: Personal Finance News from Yahoo! Finance (http://finance.yahoo.com/retirement/article/110553/jackpot-winners-just-as-likely-to-go-bust - broken link)
A simplistic answer to a complicated answer. There are a variety of reason why people are poor. Money management is definitely a part of the problem as well as overall financial literacy. But the biggest reason poor people are poor is education and lack of opportunity to improve their lives.
A simplistic answer to a complicated answer. There are a variety of reason why people are poor. Money management is definitely a part of the problem as well as overall financial literacy. But the biggest reason poor people are poor is education and lack of opportunity to improve their lives.
the point here is simple. you can give a poor person a million bucks, and they will remain poor. in 99% of cases, people's habits lead to their financial peril. it's not really debatable. if you take more from high earners and give it to low achievers, it won't help them, and it won't matter.
Okay, you weren't really talking about the Lottery, after all, then. What was with all the Lottery talk?
"Low achievers," do you mean people who have low-paying jobs?
Are you complaining about a 5% raise in taxes on household incomes of over $250K, or what? Are you complaining about the Earned Income Tax Credit, or what? Are you saying, people who make below a certain amount shouldn't be trusted with more money? Or what?!
"99% of cases", lol. Your posts are too generalized and vague. Just say what you mean
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