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This statistic is so misleading. I know you have honest intentions, but I think you find this statistic appealing because you have a worldview that poor people
by rcme 4y ago
This statistic is so misleading. I know you have honest intentions, but I think you find this statistic appealing because you have a worldview that poor people are helpless. If you read the actual report that statistic came from, you would see that about 40% said they had enough in savings to cover a surprise $500 expense. Another 21% said they would rely on a credit card, while 20% said they’d cut back on other expenses. Another 11% said they’d turn to family or friends for the money. So roughly 92% of people have a way of covering a $500 expense.
If you look at the discussion this statistic has started, it's basically a pissing contest of more and more extreme means that either help or hinder one's ability to move. But both sides of the argument are total strawmen: a vast majority of Americans can cover a $500 expense. Most people can find a way to move if they really want to. Those who can't are likely people you wouldn't want to hire.