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You are "good to go" because you already have demonstrated financial acumen. You've done well when it wasn't easy to do well. We start handing out millions and in five years, we'd be back to square one.
And the Monday after payday most of America is back to square one now. I suggest to you if you handed out these millions to everyone a good number of people, that opportunity passed over in the past, would excel, probably in large numbers.
Being poor isn't a choice, people don't look up and down the income ladder and say, "I wanta be poor", it is a lack of opportunity, a lack of access to good schools, and a whole lit of luck as to where you were born and who you parents were.
Exactly how does ones wealth have anything to do with another being poor?
When people become wealthier, they increase spending on housing. Due to NIMBY and other restrictive policies, the supply of housing generally, and rental housing specifically, cannot (in the short to medium term) keep up with demand. (Rental property especially often takes years to bring online, due to regulatory (permits, zoning, etc) and financing issues.) Since renters always must pay current rents - unlike homeowners, who pay historical mortgage payments fixed when they bought their home - soaring rents always are bad for renters.
This drives up prices and especially rents. In the latter half of the 1980s, as my neighbors became wealthier, rents soared and my income gains were more than wiped out by inflation, leaving me worse off than I was before the economy "improved".
You are "good to go" because you already have demonstrated financial acumen. You've done well when it wasn't easy to do well. We start handing out millions and in five years, we'd be back to square one.
Poor people often have financial acumen but on poverty level incomes do not become rich or wealthy. (e.g. they can't buy homes)
Do you believe poverty and financial acumen are mutually exclusive?
Not always, but with the advent of the CEO Robber Barons in America over the past 20 years or so--insane Narcissists who forced American worker's productivity to ridiculous levels, then stole EVERY PENNY of the "new" wealth created--absolutely yes.
Not always, but with the advent of the CEO Robber Barons in America over the past 20 years or so--insane Narcissists who forced American worker's productivity to ridiculous levels, then stole EVERY PENNY of the "new" wealth created--absolutely yes.
As long as you have a capitalist society, there will be poor people. I suppose you could make an argument that technology will allows us to continue to prosper, but the law of scarcity means that there are finite resources, and much of what allows us to live as we live is non-renewable.
So while, there are many people on this site that have prospered from the status quo, they seem to lack enough foresight to realize that they will be affected at some point as well.
Our situation with climate change, man made or not, will likely be the catalyst to many of the problems that we will have in the relatively near future. The bottom line is that people are going to have to start living a more modest lifestyle, regardless of how much money they make.
Do you think there are no rich people in Venezuela at this moment? LOL. How can it be that there are rich in this thriving socialist paradise? Where is the fairness guaranteed by collectivism? Why aren't the rich paying a living wage?? Have they not put on the cloaks of moral superiority that socialism provides?
Poor people are poor, and remain that way, because a rich person refuses to pay them a living wage. Period. Spin it any way you like it is the essence of the paradigm. There are also other extrinsics such as poor people (relatively) being tasked with maintaining the essential infrastructure of the country while richer people are given exemptions from virtually any responsibility for the day to day running of the country. What a fail thread.
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Total nonsense. I was once dirt poor. It had nothing to do with a living wage and everything to do with my lifestyle and motivation. The same is true of virtually every poor person I have ever known, including family members. I changed my life and now I am doing extremely well.
Blaming poverty on the rich is absolute ignorance.
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