What do you think are some of the reasons that the poor get poorer?

Question

For example, say theres a 10 pound bag of potatoes for $3.00 and a 5 pound bag of potatoes for $2.00, he only has enough money to buy the 5 pound bag. It seems as if a person with more money can save a lot more money than a poor person can. I think another reason is that a poor person has to borrow money now and then and pay back interest, where as a person with more money would not have to borrow as often and pay back interest. Can you think of some more reasons? I think a good question to ask also is why the rich get richer, but I think I will do that later, or let someone else ask, but if you want to comment on that too, go ahead.

I am not really asking to make a comment or to cause any argument. I don't even want to know why they are poor to begin with. I'm not expecting any special philosophy. Just want to know some simple reasons like the examples I mentioned.

Answer 1

In general the poor are not getting poorer, they are just not getting richer at the same rate as the rich. Recent studies have shown that the 2 major reasons people in the US get poorer is ill health and family breakups.

Answer 2

A poor person buys potatoes every day. A rich person plants his own garden and grows his own potatoes. The money he saves, he invests in income producing activites like a 3-flat and lives off the rents.

Answer 3

Your question is way off board. At the heart of it would be the educational factor. But too many factors are at play at both ends of the spectrum to elucidate any of them to finally get to the bottom of your inquiry. And you seem to feel that only the economic relativity defines what is rich and poor yet there are rich people who are emotionaly poor and there are poor people who are emotionally rich. Perhaps if you rifined your question more to a specific relativity it would be less complicated to answer.

Answer 4

I'm going to take a step off the beaten path and not blame the rich for the poor people's credit problem. I believe the real problem lies with the lack of financial education and understated information in regards to the importance of individual credit. I'll just leave it at that.

Answer 5

Well, I think you're on track with that thinking. It's kind of like inertia, capitalist-style. You hold on, or you go up or go down. Some of it is personal choice, of course, but it you find yourself on the downside, it's kind of hard to get back up to at least a stable point. Conversely, if you're already on the upside, it's pretty hard to fail. That's kind of the nub of the problem I have with the concept that we can all make it to the golden goal of success.

Answer 6

those potatoes didnt cost that much 10 years ago.
and the wages didnt go up at the same rate as the cost of those potatoes

Answer 7

Them good old credit cards, and not using them carefully. Mortgage payments, car payments, getting laid off, not being able to find a job, the list could go on.