Why do the rich get richer and the poor get children??

Question

This is a line from a song ("ain't we got fun" or something). For the most part, it's true. But why???

Answer 1

The rich keep thinking of ways to get money and do not waste their money and they plan properly while the poor act on impulse.

Answer 2

It does seem that way doesn't it? In facet, I do think that is the case for many people. But like you asked, why? In thoery, there is what we call the "poverty trap" or believing that they cannot not succeed. This notion derive years being poor or experiencing injustic. However, this is a society issue as well as personal. The rich do not want the poor to be pooer b/c that will become a burden for them in the long run (what do i mean by this?) If wealth is concentrate in one area the scale will shift, hence the poor will have to rely on those with money to handle social problem or society's wellfare. (you must ask what the hell it got to do with poor getting poorer?) Than we must ask how does one get rich? And how does one become poor? If we can answer how we get where we are, we might be able to explain where we are going. Cconomically speaking, eductaion is the key to sucess b/c its open doors and whether how many doors or what type of doors is open for debate. However, education is free in this country. There are ways to get grant for collegde and loans to get by. Although we know that lower income family tend to recieve low quality of teaching and shools (I'll leave the details out b/c its too long). But, eduction still can be free or you have to pay back later when you get a job. Still i haven't realy answer how come the richer get richer and the poor keep getting poorer? Than we must look at how many poor people aquire a colldge degree or HS diploma? Of course rich people are not any more intelligent than poors, they just had better preperation. The key is to learn abot financing, have some knowldge about economic and be well educated on the feild you choose. Create your own opportunities, don't just wait for it. Out smart those who are trying toout smart you, is like a game of chest: you have to think ahead. No kingdom last forever---no one stay rich forever and no one stay poor forever.

Answer 3

Actually the line from the song is "the rich get richer and the poor get poorer...in the mean time in between time ain't we got fun.

The rich get richer because they live smart. They don't take every dime they make and buy $200 gymshoes. They don't charge everything. They often pay cash. I know this person whose father has a big business and has lots and lots of money. He pays cash for everything. If he doesn't have the cash, he waits until he gets it. So, I guess the answer would be the rich get richer because they are more disciplined ( or perhaps more crooked and deceitful) than the poor.

Answer 4

I can't believe that the nineteen people who answered this question before me are so naive. First of all, they don't understand "rich." The girl who said that a friend's father was rich because he paid cash for everything, but if he didn't have the cash, he'd wait until he did, doesn't get it. If he doesn't have the cash, he's not rich. He may be better off than everyone she knows, but he's not rich.

Let's take a doctor who lives in your community. He makes $200,000 a year. Is he rich. Answer: no. He's well off. But, he's not rich.

Some people have no income, but they are rich. Why? Because they have wealth. That is, stocks, bonds, commercial property, etc. They get the big tax breaks. Municipal bonds, for example, are tax free. Right now, if you have $10,000 in the bank, you're getting about 1% or less interest. If you were rich, you'd have your money in financial instruments that pay dividends equivalent to 10% or more. But, even at 10%, your money would double in a little over 7 years. At 1%, you'll die before your money doubles.

Most of the poor lack wealth because they have no valuable skills and little formal education. Sociological studies have shown that, when people can't afford entertainment outside the family, they tend to have children. Time after time, we've seen that, when a young couple accumulates enough money to have interests outside the family, they tend to have fewer children.

Finally, there's the "golden rule." Those who have the gold make the rules. Nearly all Senators and Members of Congress are people from wealthy families. They are the ones who pass new tax laws every year. The purpose of the tax laws is to protect the wealth of the rich.

Here's a simple example. Let's say that you're a doctor and you're making a cool $1,000,000 per year. After you pay your staff, rent, monthly expenses, etc., you have $700,000 for yourself. However, if you declare that as income, you'll be taxed on the whole amount. So, you may clear $250,000.

Okay, that sounds like a lot of money. And it is. But, here's how you turn it into a lot more money without sacrificing anything.

You form a personal services corporation. The corporation gets to deduct staff salaries, rent, monthly bills, etc. as business expenses. Under some conditions, it might even get a tax credit.

Now, of the $700,000 that you used to declare, you now have $750,000 because of the tax saving. Now, you take half a million of that and put it into a tax-free or tax-deferred retirement plan for all employees or some kine of profit sharing plan. Meanwhile, you take $250,000 as a salaried employee of the corporation. Now, you just pay tax on the $250,000. But, your accountant can still find all kind of deductions to list on the IRS long form, so you really only pay tax on about $150,000 or less.

Meanwhile, every year that retirement fund is growing by compound interest. If you want to but a more expensive car or house, you borrow against it. Remember, it's your money. So, you charge yourself a "reasonable" amount of interest. You're monthly payments on the loan go back into your retirement account, where they add to the principal that just keeps growing by compound interest.

If you're poor and fall into the credit card trap, you may never get even. Credit card companies want you to pay the minimum payment each month. That way, they're still getting exorbitant interest (usually about 19%) on the balance that you owe. Now, if you miss a payment, then there's a penalty, usually about $40. This is over and above the extra interest that you'll have to pay. So, the hole that you dug yourself into just gets deeper and deeper.

I'm sorry about the long answer, but the system is extremely complex and can't be answer with a simple, "Well the rich work harder." 'Taint necessarily so.

Answer 5

The rich get richer because money begits more money and of course they are well educated. Most of the poor are not well educated or are so down in the dumps that they dont really care. Besides it is a way for some of them to get more benefits from welfare.

Answer 6

Because the poor can not get rich, so the government provides Tax breaks for children. Basically, children have become a commodity in America. So, the Tax breaks give the poor a reason to have children so there be more poor people to do the menial jobs in America.

Answer 7

The richer get richer because it often takes money to make money. You need an education, money to start a business, money to invest, etc.
The poor get children because many people who don't have much money focus more on their family. Many families with little money are often happier then those with a lot. They spend more time getting to know each other and enjoying each other. Families with a lot of money often spend their time working and doing things away from home because they can afford to.

Answer 8

Rich people have sex too. Except you become less rich when you have children or too many children, since resources and personal wealth will then need to be divided. You can bear it, the more income you have. But all other things being equal, the family with children or more children will have a harder time keeping up.

Answer 9

This Site Might Help You.

RE:
Why do the rich get richer and the poor get children??
This is a line from a song ("ain't we got fun" or something). For the most part, it's true. But why???

Answer 10

My friend and her brother were adopted into a white family. They had a lot of issues. The main problem i guess is that whites don't know a lot of the basics about blacks- black hair is different (most blacks at least), darker skin gets dry, etc. I think if there was a book that came along with it, like what hairdressers you could take your child to, and the neccesity of moisterizing every day, etc, they might be happier. They'll never fit it with the type of blacks you see on tv, but most blacks aren't like that anyway

Answer 11

Because in the end the poor woman that have kids feel happy and fulfilled, but the feminist rich bitches that never prodice a child finially wake up one day and say - GEEZ was the career really worth it?