Why do the RICH get RICHER ...and the POOR get POORER??

Question

it's for an essay at college ...got to get new ideas :D

Answer 1

If you're rich you have money to get an education or start a business.
If you are poor, not so much.

Answer 2

There are probably lots of solid reasons, but how about this for a starter.

1. The rich have contacts that the poor do not, therefore they have opportunity that does not exist for the poor.

2. The poor do not have as good of health insurance as the rich and therefore when somebody is poor and sick, they have to pay for the treatments and medicine and that takes everything they have. When somebody is rich and sick, the insurance covers it.

3. The poor are already in debt and the interest on that debt is a burden that is almost impossible to clear. Many people are so far in debt that if they continue to pay the minimum every month they will NEVER get out of debt.

4. When you have money in investments earning interest, you are accumulating wealth. When you have debts charging interest, you are losing wealth.

5. The poor spends money to exist, the rich invests in assets that throw off enough money for living expenses.

6. The poor generally have maxed many credit cards and have impulse buying habits that continue to grow their debt.

7. Many of the poor are school dropouts. When they work, they earn minimum wage. If you earn $7.50 an hour for 8 hours, you have a gross of $60. When you pay 30% tax, you take home $42. That means you earn $210 a week that is take home pay. On the other hand, if you are highly educated and make $48.00 an hour, for the same week you gross $1920 and take home $1344. So the amount of eduation you get has a direct relationship to your ability to earn.

Answer 3

The rich get richer and the poor get poorer not because some are smart and others are ignorant, but because some grow up in a culture that stresses opportunity, achievement, inventiveness, planning for the future, creativity and striving while others are exposed early in their lives to poverty, parents and people with very few options, incomplete knowledge of money and finances, underachievement, and an epic struggle to just survive from day to day. Every once in a while, one can escape the poverty trap but it takes tremendous energy and will to overcome the circumstances of being poor.

Answer 4

did you know that out of every 100 millionaires created each year 88 were from middle class working or lower families.
people who want to become wealthy not just rich do what the poor choose not to do .they don't worry or care what others think about what they do . others will not feed , cloth or sleep with them.
read ' the millionaire next door ' to understand.
the people who choose to become wealthy no matter where they start are willing to defer pleasure today for freedom tomorrow.
go watch 'Getting happyness' with will smith.
poor folks choose to believe in their slavery and are comfortable in it than their pipe dreams of wealth. they chooose not to learn simple money management principle so they can own their money not be owned by it .
they believe that having the biggest and best on credit is the same as wealth.
visit daveramsey.com to learn what the average college student does not know and their bankers pray that they never ever learn and apply. SallieMae isn't your kid.
did you know the average immigrant comes to US with less than average US citizen and in10 yrs the immigrant has a better positive balance sheet than citizen.
hope you learn something from your paper.

Answer 5

Its a myth - but what you could. What is actually happening is that the middle class in the US is strinking and members from those groups are either moving up or down. Anyway - that said - the rich learn to build more and more on success and the poor choose to build more and more on chance - chance that will only benefit the few.

Good Luck!!!

Answer 6

it's a very horrible political trap.
One way is that poor people are sucked into the lottery, and start spending like crazy untill they wind up homeless or die.
Also the rich people are smart enough to create good buisnesses and make more money.