2006-06-25 11:19:12 · 13 answers · asked by teresa d 4 in Business & Finance ➔ Personal Finance
Actually, that is a myth! Over time, the poor get richer too. Also, when the poor are getting poorer, so are the rich. When the rich get richer, the poor get richer too, just not as fast!
This is contrary to everything you've ever heard. So please see the two web sites below. The first is official Census data that shows in current and 2004 constant (inflation adjusted) dollars how each income class has fared since 1967. What you'll see is over time the poor get richer.
The second web site is where I graphed out how each income class's income grows or falls each year based on that same census data. The second chart shows each income class's percentage gain or loss (in 2004 constant dollars) by each year. All income classes track well together in their gains or losses.
2006-06-26 12:29:43 · answer #1 · answered by Uncle Pennybags 7 · 2⤊ 0⤋
It's not true that the poor keep getting poorer. Standards of living for the lowest income segments have been improving steadily, worldwide. In fact, the poor are getting _richer_. They just aren't getting _rich_.
2006-06-25 11:27:37 · answer #2 · answered by scott.braden 6 · 0⤊ 0⤋
Because the rich people have careers and the poor people have jobs.The rich people own things like drive through restaurant's that the poor people work in,the rich make money off the backs of the poor.And alot of poor people are bad managers of money,they spend and over use credit cards.
2006-06-25 14:26:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
because of the government.
not sure about elsewhere, but here in Aust the rich seem to get all the great benefits like pay increases and budget cuts, etc... the more money you get the more benefits you get from the government.
Rich just got a pay rise of over $100 a month in this years budget, where the lower paid got barely $20...
2006-06-25 11:25:22 · answer #4 · answered by jubiejubejubajube 4 · 0⤊ 0⤋
In one word: Inflation. As the FED or any central bank prints money out of thin air, the money supply increases; therefore, the money in your wallet depreciates.
Poor people cannot invest to maintain their purchasing power. Rich people invest to maintain their purchasing power.
What was the price of bread 10 years ago?
What is the price of bread now?
How about oil?
2006-06-25 12:26:32 · answer #5 · answered by dave s 3 · 0⤊ 0⤋
I've been asking that same question for years. The poor work their azz's off for next to nother and the suits sit on their azz's raking the big money in. Sickening.
2006-06-25 11:25:18 · answer #6 · answered by Tortured Soul 5 · 0⤊ 0⤋
becouse the rich save there money and the poor spend it its like the sory of the ant and the grass hoper
2006-06-25 11:23:17 · answer #7 · answered by ilikecheezeburgers 3 · 0⤊ 0⤋
Read the "Millionaire Next Door". Has a lot of good answers to that question.
2006-06-25 15:10:27 · answer #8 · answered by pappa_15 3 · 0⤊ 0⤋
Thats part of 'the plan'...(it's going to get worse!)
2006-06-25 11:51:20 · answer #9 · answered by MC 7 · 0⤊ 0⤋
Perhaps you haven't noticed -- but there is a Republican administration.
2006-06-25 11:23:54 · answer #10 · answered by Ranto 7 · 0⤊ 0⤋