3 ms·

It's the poor's fault they are poor, is that it ? They should bet on the right numbers in the lottery, right ? The non-stop growth of income and wealth inequal

by lta 4y ago

It's the poor's fault they are poor, is that it ? They should bet on the right numbers in the lottery, right ? The non-stop growth of income and wealth inequality for a few decades is only fair, because if you weren't able to pay for tuition, you could still scrub toilets very very very fast and and become rich ! It's no secret to anyone who has been doing any kind of reading about economy and/or investment that money makes money. I'd like to contrast that by mentioning a quite interesting report by the french senate a few years ago which was titled "It's very expensive to be poor" [1] I'm a entrepreneur and I'm not here to claim that we shouldn't have a free market, but I feel sick in my stomach when I feel like I'm reading that poor are meant to be poor or that it's only their fault. A lot of indicators tends to show the game is more and more biased. As a sidenote, as i think quite a few readers are americans: I've been living in the US for a few years and I was really astonished by the lack / or malfunction of the social elevator in that country. The American Dream seemed long gone to me. [1] https://www.senat.fr/rap/r13-388/r13-38818.html https://www.senat.fr/rap/r13-388/r13-38818.html (french only, sorry)

incomingpain 4y ago
>It's the poor's fault they are poor, is that it ? They should bet on the right numbers in the lottery, right ? Yes, if you have the poor mentality you will be poor. There's no rich people who bet on the lottery. https://www.youtube.com/watch?v=krTo4W7Z2vk https://www.youtube.com/watch?v=krTo4W7Z2vk https://www.youtube.com/watch?v=31qfjBEyKds https://www.youtube.com/watch?v=31qfjBEyKds >The non-stop growth of income and wealth inequality for a few decades is only fair, because if you weren't able to pay for tuition, you could still scrub toilets very very very fast and and become rich ! I don't know you but I have a feeling those 2 videos are going to benefit you greatly. >It's no secret to anyone who has been doing any kind of reading about economy and/or investment that money makes money. I'd like to contrast that by mentioning a quite interesting report by the french senate a few years ago which was titled "It's very expensive to be poor" [1] Income inequality at the top end derives heavily from credit score and the ability to take on debt yes. There's no better way to handle this. Nothing tried so far has produced a better outcome. If you have a solution to replacing credit score... I'm all ears. Also note, we will NEVER EVER be repealing glass steagal or equivalent to fix inner city ghettos with subprime loans ever again. It'll be many decades before we try to fix inner city ghettos again. In fact, I expect no politicians talk about inner city ghettos ever again because of that 2009 financial crisis. >I'm a entrepreneur and I'm not here to claim that we shouldn't have a free market, but I feel sick in my stomach when I feel like I'm reading that poor are meant to be poor or that it's only their fault. A lot of indicators tends to show the game is more and more biased. More and more biased? In what way? Yes regulations and higher taxes are making the situation worse on the poor. Rent control and minimum wage is doing tremendous harm to the USA. >As a sidenote, as i think quite a few readers are americans: I've been living in the US for a few years and I was really astonished by the lack / or malfunction of the social elevator in that country. The American Dream seemed long gone to me. https://en.wikipedia.org/wiki/Social_mobility https://en.wikipedia.org/wiki/Social_mobility What you are referring to is social mobility. Yes, something went very wrong in the USA. They were clearly #1 for a long time, but now they are in last place. Why? If you look at the options on that wiki page, you are basically forced to agree or come to the conclusion, culture/poormentality and housing are the USA's problem.

by lta 4y ago

incomingpain 4y ago

>It's the poor's fault they are poor, is that it ? They should bet on the right numbers in the lottery, right ? Yes, if you have the poor mentality you will be poor. There's no rich people who bet on the lottery. https://www.youtube.com/watch?v=krTo4W7Z2vk https://www.youtube.com/watch?v=krTo4W7Z2vk https://www.youtube.com/watch?v=31qfjBEyKds https://www.youtube.com/watch?v=31qfjBEyKds >The non-stop growth of income and wealth inequality for a few decades is only fair, because if you weren't able to pay for tuition, you could still scrub toilets very very very fast and and become rich ! I don't know you but I have a feeling those 2 videos are going to benefit you greatly. >It's no secret to anyone who has been doing any kind of reading about economy and/or investment that money makes money. I'd like to contrast that by mentioning a quite interesting report by the french senate a few years ago which was titled "It's very expensive to be poor" [1] Income inequality at the top end derives heavily from credit score and the ability to take on debt yes. There's no better way to handle this. Nothing tried so far has produced a better outcome. If you have a solution to replacing credit score... I'm all ears. Also note, we will NEVER EVER be repealing glass steagal or equivalent to fix inner city ghettos with subprime loans ever again. It'll be many decades before we try to fix inner city ghettos again. In fact, I expect no politicians talk about inner city ghettos ever again because of that 2009 financial crisis. >I'm a entrepreneur and I'm not here to claim that we shouldn't have a free market, but I feel sick in my stomach when I feel like I'm reading that poor are meant to be poor or that it's only their fault. A lot of indicators tends to show the game is more and more biased. More and more biased? In what way? Yes regulations and higher taxes are making the situation worse on the poor. Rent control and minimum wage is doing tremendous harm to the USA. >As a sidenote, as i think quite a few readers are americans: I've been living in the US for a few years and I was really astonished by the lack / or malfunction of the social elevator in that country. The American Dream seemed long gone to me. https://en.wikipedia.org/wiki/Social_mobility https://en.wikipedia.org/wiki/Social_mobility What you are referring to is social mobility. Yes, something went very wrong in the USA. They were clearly #1 for a long time, but now they are in last place. Why? If you look at the options on that wiki page, you are basically forced to agree or come to the conclusion, culture/poormentality and housing are the USA's problem.