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> I don't have any idea what most of these other things are It's what a poor person would invests in. There is great truth in your comment. We are ignorant of
by waynesonfire 4y ago
> I don't have any idea what most of these other things are
It's what a poor person would invests in. There is great truth in your comment. We are ignorant of opportunities available to those in higher classes. Tax tricks, off shore businesses, multi million dollar art collections. I have no idea how these things work but I guarantee you it helps wealthy people build more wealth through opportunities not available to the poor.
- panick21_ 4y agoI'm not American so some of those things I don't know about because they just don't exist in the same way or I know them by different names. You don't need to be rich to make reasonableness investment choices with your limited savings. Tax tricks are less important or impactful if you are poor. However I agree that the tax system is not helping. Moving to a simple tax system would be good for everybody. Payroll taxes are regressive for example. Most middle class people don't have off-shore accounts, and we are comparing the poor to the middle class, not to the super rich. The same goes for art collections. Those are things that make the super-rich different form middle class, they don't prevent poor people from becoming more affluent.
- waynesonfire 4y ago> Most middle class people don't have off-shore accounts, That's my point. Just like poor people don't have enough space in their apartments to store bulk goods. The cost of being poor is invariant to your wealth. It's asking the wrong question.