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Curious Reservoir

  • February 28, 2006
Let me just say that I'm tired of the American financial system, where the poor stay poor and the rich keep getting richer. I consider myself extremely lucky to be born into the family that I was given, which means that no matter how dire my personal finances get, I really don't become mortally financially worried because I've got family that will help me out. However, I figure that I work quite hard to do what I do, and it makes me consider people who don't have a college education, or who do but can't get a job, or those who just don't know how to get going. Even if I'm having trouble making ends meet with a BSEE degree (granted I'm still a student), it really doesn't matter when there are many in much worse situations.

This is where I get furious with people who oppose programs like welfare and who hold the conservative beliefs that everyone should keep what he/she earns and never be obligated to give it to others. I'm not advocating communism ... that's too much (it makes the general population too vulnerable to greed). I'm just a fiscal liberal. I think that people with money have an obligation to level the playing field for those who were never given the same opportunities. Sure, that's unfair on face value, but the fact is it's necessary, to some extent, to even the playing field that was never flat to start out, which means it's fair in the long term.

People start in different situations - some rich, some poor. The rich can do things like throw money into the stock market and let it sit, making them richer. The poor can't do that; the just-getting-by college student can't do that. After all, "only put into the market what you can afford to lose", and who can afford to make money in the stock market more than rich folks? I vote Democrat because I think that people have no right to hoarde every penny of their inheritance (financial, intellectual, or status) just because they were lucky enough to be born into richness.

To the conservatives: just think about what you believe and make an informed decision next time you vote. Is it really unfair to pay high taxes for programs like welfare and other assistances programs? How fair was it that you were born into a comfortable household and those people weren't? Of course, high taxes that go toward less useful programs can and should be debated (think Defense).

To the rich: give freely to charities and treat everyone with the utmost respect; just because they aren't as well off doesn't mean they don't deserve to be. The more respect you devote to others, the more you deserve yourself. When you look at your exponentially increasing stock portfolio, think "where is this money coming from?", and give some back to society.

</rant>

Disclaimer: this post is not aimed at anyone in particular who I know - I couldn't be good friends with someone who seriously violated these ideas, so don't take any of this personally. I just wanted to say some things in general.

Comments

  • Matt
  • February 28, 2006
  • 12:59 pm
I think you should at least consider the fact that rich people usually are the ones that give the most to charity. Only some middle-class families do while most rich families do. Even so, I don't think we can truly help needy people unless we fix our healthcare system. A lot of those rich people are in insurance companies, and they don't give insurance to the ones that need it most.
  • jennifer
  • February 28, 2006
  • 8:40 pm
there are different levels of rich. ethan's not saying that every rich person doesn't give to charity, but there are so many people who can and do buy multi-million-dollar houses and thousand-dollar shoes...
  • Emily
  • March 2, 2006
  • 11:11 pm
Another part of the problem that you don't address is the social part of the problem - the rich/poor division isn't just economic, it's social as well. Some social groups are less educated in terms of how to handle the money they *do* have. There's a live Chris Rock stand-up act that I've seen where he makes an excellent post about how blacks can have money but it doesn't make it to wealth (ie, house, investments). Instead it goes towards putting rims on your toaster or something. Neither of my parents had a college degree until after I graduated high school (my dad recently got his BA). My mom's family are rednecks (I'm serious - if you hit a deer and go back and get it THE NEXT DAY, you might be a redneck...) and my dad's dad was born in a sod house in dust bowl Oklahoma. But we've always lived comfortably, because my parents knew how to handle money.

So I guess my point is, a large part of the problem isn't that there isn't money, it's that families that can't afford to eat still have camera phones and their kids wear Air Force Ones. Seriously, folks - if you can't buy food, why are you buying $100 sneakers??? Along with getting more money to the poor, there needs to be some financial education so it can actually be used wisely. Because your toaster doesn't need rims. :P

Wow, that was long. Sorry! :)
  • Stephanie
  • March 15, 2006
  • 2:05 pm
After a bout with bronchitis and a stressful family visit, I'm finally catching up on your photoblog. I've been thinking about this topic a lot lately, so I thought I would post my 2 cents.

The real reason that the rich get richer and the poor get poorer has nothing to do with economic status. It has to do with economic knowledge. It's the Income/Expense and Asset/Liability model of accounting. Income -> Expense -> Liability -> Expense -> Liability is the poor getting poorer. Income -> Expense -> Asset -> Income is the rich getting richer.

As with every other topic of political debate, I strongly feel that both democratic and republican "solutions" are like putting a bandaid on someone with leprosy. The real solution to the problem is better education. It wasn't until just recently I learned that there's a 4 step chronological process to obtaining wealth - understanding your budget, developing emergency reserves, eliminating debt, and preparing for retirement. Imagine if I had actually learned that in high school!

I'm definitely agreeing with Emily and Chris Rock on this one. When I was born, my mom had just graduated high school and my dad had a GED. We lived in a trailer that we were "renting" from my grandmother. My mom once at frozen turkey pot pies for lunch and dinner for two weeks because it was all they could afford. Shortly after, my dad joined the Navy. After a few years, he took a few free financial advice seminars offered on the base. They bought their first home on a VA loan when I was 4. We began living beneath our means, and now, 20 years later, my parents are living quite comfortably.

As for taxes - I am strongly against income tax. All individuals should be allowed to earn money for themselves and their family without giving such a large chunk to federal aid programs. I vote for a federal sales tax that is used for federal aid programs that focus on _educating_ the poor instead of writing them checks.
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