after nearly 300 comments we're locking this post, as the two most popular solutions appear to be violence and taxes. discussions about both are against our rules, and have already been covered more that thoroughly.
This is one of those insecurities, "I don't want to complain too loudly."
Yeah life is real hard and I've got no cash but I do have electricity and indoor plumbing and internet.
I’m teaching my kids to live with me and save their money in a mutual fund like acorns for as long as possible. I’m not gonna make them pay rent or any bills I just want them to save their money. So they can do things like: Buy a car cash, buy insurance 6 months at a time, have IRA, put a down payment on a house or even buy a MFH cash on a piece of land. Return of the penny pinchers. I think some of gen z is already moving away from excessive consumerism and returning to minimalism. Also pushing college if it’s for a career they want not just because. If they want military or trade school that is great too.
This! We need to vote out the old corrupt fuckers! It’s been time for them to leave. They robbed gen x of a chance to hold the baton, and are working on keeping power away from millennials. Enough is enough. Term limits for all high positions of government; congress, Supreme Court etc. If things feel like they are moving backwards, it’s because we have ppl in charge who grew up in backwards times
But wait if the system was so bad then in backwards times, but wait the old corrupted fuckers created the new system, but wait you more then likely voted for that new system and old fuckers.
Keep blaming the system. It’s basically the same game just a different century.
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You clearly don't live in France. I have French friends and they do not hold up their country as an example to be followed. What they did was bloody and they were indiscriminate and the innocent as well as the guilty suffered. But they've got some real serious problems going on.
Every revaluation in history has ended with the people in power still being in power. Mainly with the power, just more concentrated, so that is actually the opposite of what needs to happen.
Even here in the U.S. only 15-20% of colonials supported the revaluation, and the majority of those people were the upper class. Who came out of the revaluation as even more wealthy and powerful.
The best things that could help balance the scales of financial freedom in the U.S. is the federal bank being destroyed. The income tax abolished. The tax code being massively changed to businesses not individuals.
Corporations not being allowed to make any donations to political parties or throw parties for or help raise money for any politician period.
And finally, moving away from a two party system, by removing federal funding only being given if you win more then 25% of the popular vote.
Came here to say this. La révolution. And remember, it’s a class struggle.
“International proletarian revolution. That's what it has to be. The people have to have the power: it belongs to the people.”
You ought to read and study our constitution. That was the plan. If you haven't read it now. If you did before, read it again. But there are people who have been working on hijacking it for a long time and concentrating power to keep the power out of the hands of the people. The bigger the government, the worse it gets. It was never supposed to be this big. Blame those who make it bigger.
That's been tried. It never works. It's just a new group of people who make promises, then get into power and keep it at everyone else's expense. Every. Single. Time. Take a look at France, the peasants revolt in Britain, EVERY country that has tried communist revolution (ever read Animal Farm? You should. Very educational). Every. Last. One. It certainly does make things a whole lot worse though. Every. Time.
The Church (at large, not the Catholic Church) is supposed to first take care of its own like a family, but is well known for helping others as well. But it has largely allowed the government to take on that role, (highly inefficient and corrupt and costs big bucks compared to church volunteers) yet is still the largest and most efficient provider of charitable help.
But they are told to not take political but loving action and leave perfect judgment to him. "Vengeance is mine says the Lord. I will repay." Although it does not stop anyone from taking appropriate legal action as one is able, and there is that going on too.
The ULTIMATE answer, and you probably won't like it but here it is: Christians believe when Jesus comes he will rule the world. He doesn't want, need or care about money. He can't be bribed. He will rule with perfect justice because he's omniscient and there's no way to lie to him. No one will be able to falsely accuse anybody, nor will the innocent be punished. The poor and those unable to take care of themselves WILL be cared for and there will be NO self-serving piling up of personal wealth.
According to prophecy, which in Christianity has a perfect batting average, He is due to return, but there is no exact way to set a date, nor should anyone. People are to study to understand the times, however.
And trust me, fake Christians will be in BIG trouble. There's a very frightening thing Jesus says about when the Son of Man comes and separates the sheep from the goats. Look up that phrase and then read the entire scripture around it. I think you would appreciate it.
In fact, it has been said judgement begins in the house of the Lord, which really needs to be put on billboards and written in the sky to remind those who call themselves by his name.
But you can be absolutely certain that there's a whole lot of real Christians who are angry about the charlatans out there preaching the "prosperity Gospel" to enrich themselves, and actively try to warn people. But too many DON'T want their bubble popped, are DETERMINED to drink the kool-aid, and get mad when warned.
You seem to be a faith based person I am not my question to you is why are so many people convenient Christians? they claim to be Christians only when it's convenient for them.
Fair question, and it is a problem. Some claim it to lower people's defenses to trust them when in fact they are con artists - that's a very eternally dangerous game to play. Televangelists are not as common as they were (thank God), but too many mega churches should be approached with great caution. Well informed Christians can name many names of the biggest offenders, don't like it, pray that they actually come to repentance, while understanding they need to have consequences to wake them up.
Some started out well, but fell back, have not repented and are continuing down very bad and potentially eternally dangerous paths. Ravi Zacharias, deceased, is a recent example.
There are many who don't really know what it means, and many who only think they know what it means yet trying to tell others what it means.
It's also not easy to be one. It's the ONLY religion where everybody expects you to be perfect, thinking they know what it's about without actually reading the Bible to be know what Christians are called to. I'm not talking about you, this is a broad fact. But I think it's because people recognize Christianity really is different. Even the Bible says "judgment begins in the house of the Lord."
Becoming a Christian is not a light switch to make you perfect (which is hard when you realize it), although there are people who have dramatic healings and recovery from various problems and some shine like the sun and make the rest of us wish we could have such dramatic changes.
For most it's a daily difficult process of remembering our allegiance is to Him now, and living it out. It's learning how to be better than we used to be, growing, changing, repenting (difficult and painful), and deepening our relationship with Jesus and doing what we learn He made us to do.
It's learning we can't put God in our debt because what we've done/said/thought/failed to do can't be undone. But salvation is through His voluntary acceptance of the consequences we would otherwise face, proving He is God by coming back to life, appearing to hundreds of witnesses, then publicly taking His resurrected body with Him until His return. Yes, it's been a long wait, but it was a long wait for his first appearance. Why should any particular generation be special?
He wants us to follow and serve Him, living as His hands and feet, and as a reflection of His character and concern for the people and world He made. It's a tough road and why the New Testament says so much about how people should and should not live.
Nothing. 90+% of generational wealth is gone within 3 generations. As others have said, we should find a way to develop a comprehensive safety net for all citizens.
>90+% of generational wealth is gone within 3 generations.
Not really. A recent study in Florence (Italy) showed that one half of the current rich families descend directly from people who belonged to the richest families at the end of the Middle Ages.
Anyway, the wealth of the 1% nowadays is on such a level that it can't be entirely squandered by careless grandkids, and there is a whole system in place to protect them.
I talked about this with a colleague at work who is very thoughtful and we both agreed that if everybody had everything they needed and wanted, the country would be paved over with housing within 100 or 200 years.
I think housing is being made hard to afford on purpose.
I agree so much with this not only that they are building homes so big that cost so much in taxes and energy cost I haven't seen any new homes built under 2300sqft in my area all over $400k+ now
The entire population of earth could live in Texas at Paris level density. The problem with housing is actually cities zoning for suburban developments. Which are basically debt traps for most cities in America.
I think those stats come pre mutual funds and ETFs.
Back in the day you could lose your family fortunes with a few bad investments, now you can invest directly into the world economy and take a return from.
I bet when we are old, new stats will come out showing most of those born upper class stay.
In the US tax rates and brackets like those in the 1950's adjusted for inflation. That would be a good start. Then, you make corporations, businesses, and not people. Then, eliminate tax loop holes like pass-throughs and ridiculous write-offs. The tax all religious institutions as businesses. Take all that money, balance the budget, do a massive infrastructure campaign similar to Eisenhower's and adjust the social security and other poverty definitions to pre-Reagan Era definitions, adjusted for inflation (CPI, not salary or wage increases). Implement a very small basic minimum income and make it illegal for non-persons to own residential property.
You need to do some research on the 50's tax brackets, NOBODY was paying that rate.. and if we make the corporations pay more taxes, its just going to be a tax their customers pay, which is people in this group.. we do not have a tax problem, we have a spending problem
Big swings typically happen with new advancements.
Think Microsoft, Amazon, Facebook.
People rise and fall all the time. But the biggest risers come from new advancements.
There will likely NEVER be an equalizer
Fifty years ago when my wife and I graduated from college we had $20 between us when I got my first paycheck. We are now retired and have a net worth between $4-6 million. Unless we contract some horrible disease, the bulk of this, or more, will pass to our 3 kids as generational wealth.
Let’s assume they are good stewards of the money, it grows and passes to their kids. We worked hard to earn our wealth; why shouldn’t our kids benefit?
The answer may not be stopping people born in wealth to stay in wealth. It’s about helping people born in poverty get out of poverty. To me if everyone can be given a good life regardless of choice then that’s awesome. Let wealth be a choice. However being stuck in poverty isn’t necessarily a choice and that’s the problem
What is “basic needs”?
Today it includes indoor plumbing, a/c, internet connection, more than three outfits, microwave, refrigerator, car, etc.
When the white people took the natives land did the natives have their basic needs met?
Much more than 100 years ago in 1925 when my mother was born. I remember my mother darning socks. She also sew our clothes. Canned from the vegetable garden.
Sounds like you’re talking universal basic income. Which makes sense in today’s world. Tribes would feed everybody.
I agree, we need to help people born into poverty get out of the cycle. But doesn’t one class kinda rely on the other with capitalism? Don’t the wealthy get that way by manipulating people in poverty with barely enough money to survive to keep them stuck there? Paying workers at the bottom peanuts so they can hoard all the money at the top? If given the choice, wouldn’t the overwhelming majority of people choose to hoard their wealth if they had it?
Oh yeah I hate capitalism. Capitalism literally is the root of most problems in America because it legitimizes exploitation and says that exploitation is ok because that’s how the world works
There are about 750 billionaires in the United States. Ten percent, or 12.5 million, of U.S. households are worth $2 million. Roughly 6 million, or 4% of households, have a net worth of $4 million or more. You can kid yourself and say that these 750 billionaires are what is causing all of the equality in the country, but you would be wrong. But the problem is, the family worth $4 million still has to work. They worry about money and struggle from time to time. They are often out in the community just being ordinary people. It's very hard to target people like these, but the top 10 percent is where the inequality really is, not the top 750 billionaires.
[The top 1% of the population owns about half of the total wealth (33% of wealth) controlled by the top 10% of the population (69% of wealth)](https://economics.princeton.edu/working-papers/top-wealth-in-america-new-estimates-under-heterogenous-returns/)
This post isn’t talking about people in your situation. It’s talking about the 1% of earners that profit off of the poor and working class and have high influence on leadership and policy in the U.S. Sounds like your somewhere in the top 10% and not to be rude or anything but you’re not billionaires.
Your net worth isn't high enough for you to have to worry. We don't care about your millions... it's those with hundreds of millions and billions who need to be eaten.
The machines you build with your wealth are the same ones keeping the people who are down down. Everyone has to contribute to the greater good of everyone. It doesn't have to be called communism. We can pick and choose the good parts.
Yes. They do. Bill Gates and Warren Buffet and some other billionaires have pledged their wealth to charity. Look up the giving pledge. Goal give 50% or more of you wealth to charity.
This is a good question.
It’s not about bringing everyone down. The ultra rich are literally siphoning money from low and middle income communities.
In the form of private equity buying homes and reselling or renting. Insanely low tax rates on the very rich. Tax loopholes. Low salaries. Getting rid of benefits. The list goes on and on.
They’re rich because they’re taking from ordinary people. They’re obsessed with the markets and no longer invest in people. It’s all about squeezing every drop. Stock buy backs. Etc
They need to give back to the people who made them rich, and be fair and equitable employers, instead of what they do now.
Breaking poverty is hard. It starts with education and kids in poverty usually go to bad schools and live in bad neighborhoods with parents that have intoxication problems. Give their kids very small chance to success. Vs the rich kids given everything
It's okay to want poor kids to have better access to education and other opportunities. It's not okay to want kids with opportunities to not have opportunities because if you follow that logic, that means no one can have access to opportunities.
Yes, they do, but OP wants kids who have opportunities to lose those opportunities. I argue that we should not wish that. We should wish the opposite and give kids who don't have opportunities to get opportunities.
The rich and their lackeys in government have purposely created a political machine here in the YS that siphons money from the middle class and gives it to the rich. An economics paper found that the average working class American would make nearly double their income if we stayed with pre-Reagan policies.
We can't discuss wealth and wealth inequality without addressing the fact that the middle class is being purposely destroyed to siphon their money to give to to the wealthy.
Not being able to pass on wealth would be applied to everyone. After all, wealth is relative. To most people, it means whoever has more than them. You might not think so until you get attacked on this sub for having a place to stay.
No, there have been numerous proposed bills that would tax inheritances and estates, and they all had minimum limits that excluded anyone who could remotely be conceived of as "middle class."
While it is true that some are dealt better cards than others, we must all play our own hands to the best of our ability. It does no one good to claim that everyone who was dealt a good hand is cheating. Doing so will not help win the game.
There are also those who start with decent cards and just lose everything through poor choices. I know no one will admit to that, but it's true. Then there are those who start with poor cards and also make poor choices. They probably never had anyone teach them how to make good choices.
> most people born in wealth stay in wealth
Most wealthy families squander their wealth in 3 generations
https://www.linkedin.com/pulse/three-generation-curse-wealth-why-riches-dont-last-michael/
> What can be done to end this cycle.
You gave the answer when you said "Yeah some people escape poverty by working and luck."
Are you serious? 🤣
There were indeed some achievements of the French Revolution, however, overall, it is viewed as a failure because of the civil disorder, political turmoil, economic hardship, power greed in the leaders, opposition from external powers, political divisions, and execution of *thousands* of people.
It also led to more than 25 years of bloody violence and warfare across Europe and the occupation of foreign countries.
Are those enough "negative consequences" for you?
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Reality answer no one is coming to save you. You have to do it yourself with in the system you’re born into. With the choices you make. It’s been that way forever. 100 years 😂
There have always been wealthy people and there will always be poor people.
A lot of people don't like to admit it but when you grow up in a developed country being impoverished is a choice. Often times its making one bad choice after another and racking up more debt than you can manage. I have 0 debt and live with in my means. I don't spend money I don't have and I don't blame others for my problems. Manage your money right and quit looking for someone else to blame and you realize life ain't that hard and ain't that bad.
I grew up very poor. The local news even had a new article about how poor we were. Going to school after that was great wasn't it. So according to your logic, it was my fault being born poor 🤔 it's my fault I was sent to a bad school district. It was my fault my parents had addictions. It was my fault I had to choose between going to school or working a low wage job to feed myself as a teenager. Yeah that doesn't sound right but growing up poor made me who I am and I will always stand up for the less fortunate. I will always stop and ask someone if they need anything. I don't drive by a homeless person on the side of the road and say get a job like the rest of us. I just don't see the justifications of someone having so much and everyone else having so little in America nobody should ever go hungry but we do. Because greed has taken over.
Sweetie you ain't the only one who grew up poor. I grew up as poor as anyone else. Unfortunately you've paid for the bad choices of you parents and your grandparents as harsh as that sounds. I paid for it too before I was 18. After I moved out and started taking care of myself the only time I didn't have enough was when I was blaming everyone else for my poverty. After I took responsibility for my future everything got better. Getting out of poverty isn't comfortable and there's no one else that's going to get you out other than yourself.
I personally, know people who failed school throughout...and still landed profitable business deals that I could never dream of.. all because of nepotism.
Meanwhile, I've been an A and B student all my life, and I still haven't managed to pull myself out of poverty ...in my 30s.
This is how I know, most of those motivational speakers that talk about "the grind" are only telling half the story. They don't like talking about how much **luck** it takes.
What **grind** were the NEPO babies on when they failed their way through school and still inherited their parents' businesses?
Does this make me sound bitter? Maybe. But so what.
OP. Some things in life just aren't fair.
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If you look at China, the way to end the control of a family is just 100million dead and instill a new family. And I don't think its necessarily a bad thing. 100 years ago you cant even look at a noble in the eyes or you will be beheaded but now you can at least pretend that you are both equal humans.
This is the same in Europe, only select few families are still royals but honestly they are just figureheads. I'm not saying they are poor though, people with royal bloodlines do still control significant part of world economy.
What you personally can do is not let your children believe Disney's propaganda. These families endure for centuries because they never believe in love and always marry for their advantage. There is no such thing as a rich princess marrying a commoner. So if you instill cold heartedness to your children and they instill the same and so on, in 10 generations your bloodline will climb the social ladder to the top if they all marry advantageously.
Also, of course, don't follow the inheritance law that just want to break the wealth. Wealth need to be concentrated thus you should only have one child (usually first born son) to get it. The others can get the dividend.
You may not get the wealth now, but remember everything starts small!
A general strike could save us all. It's been historically proven that we just need 3.5% of the population to strike to see political reform. Visit generalstrikeus.com for more info
This might be controversial but wealth is earned. Poverty is escaped and that's a choice. It may be harder for some over others to escape it but it can be done.
My father ruined our family and after working for 40+ years has not a dollar to his name because he was constantly blowing his money on things for himself. He's a horrible man. That being said I started out in debt from school and had to claw my way out by working multiple jobs, walking to work and eating very little. I am finally am starting to see the fruits of labor. It was a CHOICE for me though. I was around drugs but chose not to do them, worked hard and told myself "NO. I deserve better!" Every single day. If I chose the other road I would be continuing the poverty chain.
I want to give my daughter a better life than I had. My husband and I are working our butts off to get to that goal.
Every system of government ever devised has a lot of corruption. The difference is that under capitalism that corruption is perfectly legal under the guise of public private partnerships.
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How is this obvious, it’s not only untrue but I would have to ask… name the families running things for hundreds of years? And let’s assume that the VanRiches family was made poor… how does that make you less poor? If I bankrupt the McHavemoneysons do I become more well off?
Think about your area and what family controls almost everything it's very common my area is controlled by 2 families they own 80% of everything and have total control over laws that are passed
Generational wealth is something that is built off the backs of hardworking forward-thinking individuals who sacrifice many things so that their progeny can have an excellent chance at building a better life.
I know that IF I did have children that I would want to give them as much of an unfair advantage as I possibly could...
88% of millionaires are self-made, and 68% of those who are worth over 30 million are also self made.
Usually wealth doesn't last more than 3 or 4 generations because tough times build strong people, strong people create good times, good times create weak people, and weak people create tough times...
Universal basic income, funded by money saved by automation. Instead of the savings going to the corporations, it should go to the basic needs of all. And I mean the true basics so housing, food, water, health care and that's it. If you want more, work for it. Contribute to society.
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It just haphazardly happens. The people who were born into wealth loss touch with the understanding of how the other side lives. They make mistakes and loss it all, but that is uncommon.
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It's going to take people growing a pair and standing up to power. Sadly everyday it looks like people become weaker and weaker and the balls just become smaller and smaller :(
Every single one of us foolish slaves earning below $200k/year needs to simply stop participating in money-based social records, and instead evolve into a version of humanity that doesn’t need absurdly wealthy individuals, bloodlines, AND/OR corporations/businesses to dictate every aspect of their lives via perpetual reliance on a commodity-based consumer-driven system that will always favor those who have the ever-increasing yet never tangible wealth leveraging credit and speculation and offshore accounts & endless militant advert misdirection always imbuing a sense of dependence on products and services designed to create profit over utility. Always leveraging the silly monetary notion of perceived value within their own rigged system to mitigate any chance of losing power that relies on all of us slaves working for them believing we need to have and use what they want us to.
Basically everyone needs to wake the fuck up, realize everything that exists can exist without money, and collectively it is possible to rise above the illusion of democracy and shatter the spectacle of all political systems that enforce law written by currency
Etc
We need to exchange kindness and compassion and invention and healing and art and experiences and provide for one another and offer everyone through collaboration the ability to belong to their immediate surroundings and the people (including animals and trees and all living things and all inanimate things) within it.
We need to learn how to prosper and make one another prosper independently of those who will always make what could be better for everyone only good for themselves.
I can’t say what I am trying to say or convey it or articulate it any way that is convincing enough to move masses, and that’s what need occur.
A message that spreads like wildfire and eliminates want of more.
Or cap wealth and stop inflation, make money tangible and eradicate plutocratic governance of monopolized systems protected by laws only written because the constituents who authored and passed them were puppets of an polluted pride given power by the people who should be and have been in violent opposition to it
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Stop living on credit and actually work your ass off for a good job. Vast majority of people are not born into generational wealth. Every choice you make has led you to this point in your life. If you dont like where you’re at then make better choices!
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I really don’t think a revolution is possible in the same way that it was in the 60s and 70s. Modern technology has had too much of its distorting impact. We can actually have billionaires now because all the money can be stored on a computer you couldn’t physically store that much cash.
In ancient times when wealth got to concentrated, the peasants would physically steal it you can’t do that when all wealth is digital.
The main problem is wealth being digital has allowed concentration to become ridiculous, and given some insanely rich people more wealth than entire countries.
I don’t know what could reverse the trend
The amount of money people can have has nothing to do with a bank being able to physically store money. When you give your money to a bank, it doesn't just sit in a vault as cash, it is invested in other ventures to make the bank a profit using your cash, and they record how much of your money they were given (it doesn't have to be a computer, it could be pen and paper). That's why the market can crash if everyone panics and tries to withdraw all their money at the same time, the bank doesn't actually hold onto it and wouldn't be able to fulfill all the withdrawals. That's why the federal government insures up to $250,000 (iirc) for personal bank accounts, so people don't freak out during economic downturns and try to withdraw everything before the banks run out of money to hand out.
* Please Read - Data Important *
Just to give everyone a base understanding of the concern about the ultra rich.
[https://lcurve.org](https://lcurve.org)Look at the www.l-curve.org. I first saw this graph in the late 80’s.
[https://givingpledge.org](https://givingpledge.org) where the wealthy are giving over 50% of their wealth away. I think Bill Gates also saw the above graph.
Doing more about this global problem is outside of my circle of influence, however helping one individual at a time is not.
There will always be “poor” among us.
1. Stop whining. Start grinding.
2. Educate yourself and learn new skills
3. Use technology to improve your life and economic opportunities
4. Learn finance and how to manage your own money
It's not hard to get out of poverty. However, most people don't have what it takes to get out of it.
There is a reason poor people stay poor (and its not the system). Persistence, hard work, money management/financial literacy, delaying gratification by investing instead of buying cool stuff...these things are hard and it's easier to go on Reddit and complain about the system than doing any of those things.
after nearly 300 comments we're locking this post, as the two most popular solutions appear to be violence and taxes. discussions about both are against our rules, and have already been covered more that thoroughly.
In the grand scheme of things, I’m just glad I was born poor in a rich country and not born poor in a poor country
This is one of those insecurities, "I don't want to complain too loudly." Yeah life is real hard and I've got no cash but I do have electricity and indoor plumbing and internet.
Even forget all those, you’ve got food. It’s shitty food that you can afford, but generally you go to sleep every night with a full belly
The way I see is just because someone has it worse doesn’t mean we can’t try to make our lives better and we need to complain to do it.
Oh most definitely. An insecurity to fight so we are heard.
Well that’s true. One could start a business
I’m teaching my kids to live with me and save their money in a mutual fund like acorns for as long as possible. I’m not gonna make them pay rent or any bills I just want them to save their money. So they can do things like: Buy a car cash, buy insurance 6 months at a time, have IRA, put a down payment on a house or even buy a MFH cash on a piece of land. Return of the penny pinchers. I think some of gen z is already moving away from excessive consumerism and returning to minimalism. Also pushing college if it’s for a career they want not just because. If they want military or trade school that is great too.
A revolution of historic proportions
Maybe I'm just a pessimist but in my opinion best case is wealth and power just change hands. Power corrupts. Would love to be proved wrong.
That’s the thing. Every revolution in history has only ever succeeded in creating a new oppressive upper caste to replace the old one.
This! We need to vote out the old corrupt fuckers! It’s been time for them to leave. They robbed gen x of a chance to hold the baton, and are working on keeping power away from millennials. Enough is enough. Term limits for all high positions of government; congress, Supreme Court etc. If things feel like they are moving backwards, it’s because we have ppl in charge who grew up in backwards times
But wait if the system was so bad then in backwards times, but wait the old corrupted fuckers created the new system, but wait you more then likely voted for that new system and old fuckers. Keep blaming the system. It’s basically the same game just a different century.
Power does corrupt. You might want to explore some anarchist though. No gods, no masters.
No masters, except whenever the commune wants to take your property.
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There’ll be a loooot of protests and maybe even rioting eventually as a result of it, though. They need their Macaroon guy back
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You clearly don't live in France. I have French friends and they do not hold up their country as an example to be followed. What they did was bloody and they were indiscriminate and the innocent as well as the guilty suffered. But they've got some real serious problems going on.
God I hope not. Revolutions usually don't end well.
Every revaluation in history has ended with the people in power still being in power. Mainly with the power, just more concentrated, so that is actually the opposite of what needs to happen. Even here in the U.S. only 15-20% of colonials supported the revaluation, and the majority of those people were the upper class. Who came out of the revaluation as even more wealthy and powerful. The best things that could help balance the scales of financial freedom in the U.S. is the federal bank being destroyed. The income tax abolished. The tax code being massively changed to businesses not individuals. Corporations not being allowed to make any donations to political parties or throw parties for or help raise money for any politician period. And finally, moving away from a two party system, by removing federal funding only being given if you win more then 25% of the popular vote.
This is the way
Came here to say this. La révolution. And remember, it’s a class struggle. “International proletarian revolution. That's what it has to be. The people have to have the power: it belongs to the people.”
You ought to read and study our constitution. That was the plan. If you haven't read it now. If you did before, read it again. But there are people who have been working on hijacking it for a long time and concentrating power to keep the power out of the hands of the people. The bigger the government, the worse it gets. It was never supposed to be this big. Blame those who make it bigger.
That's been tried. It never works. It's just a new group of people who make promises, then get into power and keep it at everyone else's expense. Every. Single. Time. Take a look at France, the peasants revolt in Britain, EVERY country that has tried communist revolution (ever read Animal Farm? You should. Very educational). Every. Last. One. It certainly does make things a whole lot worse though. Every. Time. The Church (at large, not the Catholic Church) is supposed to first take care of its own like a family, but is well known for helping others as well. But it has largely allowed the government to take on that role, (highly inefficient and corrupt and costs big bucks compared to church volunteers) yet is still the largest and most efficient provider of charitable help. But they are told to not take political but loving action and leave perfect judgment to him. "Vengeance is mine says the Lord. I will repay." Although it does not stop anyone from taking appropriate legal action as one is able, and there is that going on too. The ULTIMATE answer, and you probably won't like it but here it is: Christians believe when Jesus comes he will rule the world. He doesn't want, need or care about money. He can't be bribed. He will rule with perfect justice because he's omniscient and there's no way to lie to him. No one will be able to falsely accuse anybody, nor will the innocent be punished. The poor and those unable to take care of themselves WILL be cared for and there will be NO self-serving piling up of personal wealth. According to prophecy, which in Christianity has a perfect batting average, He is due to return, but there is no exact way to set a date, nor should anyone. People are to study to understand the times, however. And trust me, fake Christians will be in BIG trouble. There's a very frightening thing Jesus says about when the Son of Man comes and separates the sheep from the goats. Look up that phrase and then read the entire scripture around it. I think you would appreciate it. In fact, it has been said judgement begins in the house of the Lord, which really needs to be put on billboards and written in the sky to remind those who call themselves by his name. But you can be absolutely certain that there's a whole lot of real Christians who are angry about the charlatans out there preaching the "prosperity Gospel" to enrich themselves, and actively try to warn people. But too many DON'T want their bubble popped, are DETERMINED to drink the kool-aid, and get mad when warned.
You seem to be a faith based person I am not my question to you is why are so many people convenient Christians? they claim to be Christians only when it's convenient for them.
Fair question, and it is a problem. Some claim it to lower people's defenses to trust them when in fact they are con artists - that's a very eternally dangerous game to play. Televangelists are not as common as they were (thank God), but too many mega churches should be approached with great caution. Well informed Christians can name many names of the biggest offenders, don't like it, pray that they actually come to repentance, while understanding they need to have consequences to wake them up. Some started out well, but fell back, have not repented and are continuing down very bad and potentially eternally dangerous paths. Ravi Zacharias, deceased, is a recent example. There are many who don't really know what it means, and many who only think they know what it means yet trying to tell others what it means. It's also not easy to be one. It's the ONLY religion where everybody expects you to be perfect, thinking they know what it's about without actually reading the Bible to be know what Christians are called to. I'm not talking about you, this is a broad fact. But I think it's because people recognize Christianity really is different. Even the Bible says "judgment begins in the house of the Lord." Becoming a Christian is not a light switch to make you perfect (which is hard when you realize it), although there are people who have dramatic healings and recovery from various problems and some shine like the sun and make the rest of us wish we could have such dramatic changes. For most it's a daily difficult process of remembering our allegiance is to Him now, and living it out. It's learning how to be better than we used to be, growing, changing, repenting (difficult and painful), and deepening our relationship with Jesus and doing what we learn He made us to do. It's learning we can't put God in our debt because what we've done/said/thought/failed to do can't be undone. But salvation is through His voluntary acceptance of the consequences we would otherwise face, proving He is God by coming back to life, appearing to hundreds of witnesses, then publicly taking His resurrected body with Him until His return. Yes, it's been a long wait, but it was a long wait for his first appearance. Why should any particular generation be special? He wants us to follow and serve Him, living as His hands and feet, and as a reflection of His character and concern for the people and world He made. It's a tough road and why the New Testament says so much about how people should and should not live.
This is the only way
Unfortunately, mere crumbs pacify the masses.
Nothing. 90+% of generational wealth is gone within 3 generations. As others have said, we should find a way to develop a comprehensive safety net for all citizens.
30% of the land in England is owned by the same families who were awarded the land by William the Conqueror after he conquered England in 1066
>90+% of generational wealth is gone within 3 generations. Not really. A recent study in Florence (Italy) showed that one half of the current rich families descend directly from people who belonged to the richest families at the end of the Middle Ages. Anyway, the wealth of the 1% nowadays is on such a level that it can't be entirely squandered by careless grandkids, and there is a whole system in place to protect them.
I talked about this with a colleague at work who is very thoughtful and we both agreed that if everybody had everything they needed and wanted, the country would be paved over with housing within 100 or 200 years. I think housing is being made hard to afford on purpose.
We need sustainable and abundant development. That means not building SFHs or “luxury” apartments as our only forms of housing.
I agree so much with this not only that they are building homes so big that cost so much in taxes and energy cost I haven't seen any new homes built under 2300sqft in my area all over $400k+ now
The entire population of earth could live in Texas at Paris level density. The problem with housing is actually cities zoning for suburban developments. Which are basically debt traps for most cities in America.
I think those stats come pre mutual funds and ETFs. Back in the day you could lose your family fortunes with a few bad investments, now you can invest directly into the world economy and take a return from. I bet when we are old, new stats will come out showing most of those born upper class stay.
That leaves 10% to lord 9ver us. Tax the rich feed the poor til there are no poor no more.
In the US tax rates and brackets like those in the 1950's adjusted for inflation. That would be a good start. Then, you make corporations, businesses, and not people. Then, eliminate tax loop holes like pass-throughs and ridiculous write-offs. The tax all religious institutions as businesses. Take all that money, balance the budget, do a massive infrastructure campaign similar to Eisenhower's and adjust the social security and other poverty definitions to pre-Reagan Era definitions, adjusted for inflation (CPI, not salary or wage increases). Implement a very small basic minimum income and make it illegal for non-persons to own residential property.
You need to do some research on the 50's tax brackets, NOBODY was paying that rate.. and if we make the corporations pay more taxes, its just going to be a tax their customers pay, which is people in this group.. we do not have a tax problem, we have a spending problem
And monopoly reform.
We have the same mindset I think we're best friends and don't know it 😂
Trick question. It wont end in our lifetime at least
Big swings typically happen with new advancements. Think Microsoft, Amazon, Facebook. People rise and fall all the time. But the biggest risers come from new advancements. There will likely NEVER be an equalizer
Don’t worry about how much your neighbors have. Work for your own shit.
Fifty years ago when my wife and I graduated from college we had $20 between us when I got my first paycheck. We are now retired and have a net worth between $4-6 million. Unless we contract some horrible disease, the bulk of this, or more, will pass to our 3 kids as generational wealth. Let’s assume they are good stewards of the money, it grows and passes to their kids. We worked hard to earn our wealth; why shouldn’t our kids benefit?
The answer may not be stopping people born in wealth to stay in wealth. It’s about helping people born in poverty get out of poverty. To me if everyone can be given a good life regardless of choice then that’s awesome. Let wealth be a choice. However being stuck in poverty isn’t necessarily a choice and that’s the problem
I always say let’s meet people’s basic needs & then they can choose to work more on top of that.
What is “basic needs”? Today it includes indoor plumbing, a/c, internet connection, more than three outfits, microwave, refrigerator, car, etc. When the white people took the natives land did the natives have their basic needs met? Much more than 100 years ago in 1925 when my mother was born. I remember my mother darning socks. She also sew our clothes. Canned from the vegetable garden. Sounds like you’re talking universal basic income. Which makes sense in today’s world. Tribes would feed everybody.
I agree, we need to help people born into poverty get out of the cycle. But doesn’t one class kinda rely on the other with capitalism? Don’t the wealthy get that way by manipulating people in poverty with barely enough money to survive to keep them stuck there? Paying workers at the bottom peanuts so they can hoard all the money at the top? If given the choice, wouldn’t the overwhelming majority of people choose to hoard their wealth if they had it?
Oh yeah I hate capitalism. Capitalism literally is the root of most problems in America because it legitimizes exploitation and says that exploitation is ok because that’s how the world works
$4-6 million is nothing in the grand scheme of the 1% we’re talking about billionaires not baby millionaires.
There are about 750 billionaires in the United States. Ten percent, or 12.5 million, of U.S. households are worth $2 million. Roughly 6 million, or 4% of households, have a net worth of $4 million or more. You can kid yourself and say that these 750 billionaires are what is causing all of the equality in the country, but you would be wrong. But the problem is, the family worth $4 million still has to work. They worry about money and struggle from time to time. They are often out in the community just being ordinary people. It's very hard to target people like these, but the top 10 percent is where the inequality really is, not the top 750 billionaires.
3 people have as much wealth as the bottom 50%. Its unsustainable and cruel.
[The top 1% of the population owns about half of the total wealth (33% of wealth) controlled by the top 10% of the population (69% of wealth)](https://economics.princeton.edu/working-papers/top-wealth-in-america-new-estimates-under-heterogenous-returns/)
This post isn’t talking about people in your situation. It’s talking about the 1% of earners that profit off of the poor and working class and have high influence on leadership and policy in the U.S. Sounds like your somewhere in the top 10% and not to be rude or anything but you’re not billionaires.
Right? Between 2 people and a house they bought 40 years ago for 35k and a bag of blueberries.
Your net worth isn't high enough for you to have to worry. We don't care about your millions... it's those with hundreds of millions and billions who need to be eaten.
Think they’re talking about the big time players, no one coming after your couple million bud.
Congratulations on your success but if I was born 50 years ago I'd be perfectly fine our generations are absolutely not the same trust me on this 😭
Shush. You're just supposed to say Capitalism is the worst thing ever to happen to the world and move on.
It’s a hugely productive engine that can create levels of inequality that are incompatible with democracy and social stability.
The machines you build with your wealth are the same ones keeping the people who are down down. Everyone has to contribute to the greater good of everyone. It doesn't have to be called communism. We can pick and choose the good parts.
Why shouldn’t the society as a whole that made you so successful be the primary beneficiary of your wealth?
Why ask how to bring everyone down? Why not ask how to bring everyone up?
Because resources are finite.
Do the rich ever ask this ?
No. They don't have to. They're already rich.
Yes. They do. Bill Gates and Warren Buffet and some other billionaires have pledged their wealth to charity. Look up the giving pledge. Goal give 50% or more of you wealth to charity.
👏 🍪
Tax write offs! They don’t donate bc of the “ goodness in their hearts”! They always have an agenda.
Plus, being charitable is good PR to sell your products.
Even if they’re donating 50% of their wealth for tax write offs, they’re still donating.
Either would be effectively the same when you consider how inflation/economy would be affected by each situation.
There’s a pie and 300,000 people. 3 people have 50% of the pie. They’re going to have to share it or suffer a French Revolution.
This is a good question. It’s not about bringing everyone down. The ultra rich are literally siphoning money from low and middle income communities. In the form of private equity buying homes and reselling or renting. Insanely low tax rates on the very rich. Tax loopholes. Low salaries. Getting rid of benefits. The list goes on and on. They’re rich because they’re taking from ordinary people. They’re obsessed with the markets and no longer invest in people. It’s all about squeezing every drop. Stock buy backs. Etc They need to give back to the people who made them rich, and be fair and equitable employers, instead of what they do now.
Breaking poverty is hard. It starts with education and kids in poverty usually go to bad schools and live in bad neighborhoods with parents that have intoxication problems. Give their kids very small chance to success. Vs the rich kids given everything
It's okay to want poor kids to have better access to education and other opportunities. It's not okay to want kids with opportunities to not have opportunities because if you follow that logic, that means no one can have access to opportunities.
Didn’t imply that I didn’t want well off kids to have success, just mentioning why kids in poverty have a harder time
Yes, they do, but OP wants kids who have opportunities to lose those opportunities. I argue that we should not wish that. We should wish the opposite and give kids who don't have opportunities to get opportunities.
The rich and their lackeys in government have purposely created a political machine here in the YS that siphons money from the middle class and gives it to the rich. An economics paper found that the average working class American would make nearly double their income if we stayed with pre-Reagan policies. We can't discuss wealth and wealth inequality without addressing the fact that the middle class is being purposely destroyed to siphon their money to give to to the wealthy.
There ain't gonna be no middle class if they middle class can't pass on their wealth, which is what OP is against.
No one is arguing against the middle class transferring their wealth to they children.
Not being able to pass on wealth would be applied to everyone. After all, wealth is relative. To most people, it means whoever has more than them. You might not think so until you get attacked on this sub for having a place to stay.
No, there have been numerous proposed bills that would tax inheritances and estates, and they all had minimum limits that excluded anyone who could remotely be conceived of as "middle class."
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When it’s a systemic problem, yes it’s fair to say that it’s not just the individuals fault for not pulling themselves up by their bootstraps -.-
While it is true that some are dealt better cards than others, we must all play our own hands to the best of our ability. It does no one good to claim that everyone who was dealt a good hand is cheating. Doing so will not help win the game. There are also those who start with decent cards and just lose everything through poor choices. I know no one will admit to that, but it's true. Then there are those who start with poor cards and also make poor choices. They probably never had anyone teach them how to make good choices.
The rich are holding our heads under water, only way to bring everyone else up is to bring them down.
Generational wealth is for the middle class, too. If you stop allowing the passing on of wealth, you sink them with the whole ship.
> most people born in wealth stay in wealth Most wealthy families squander their wealth in 3 generations https://www.linkedin.com/pulse/three-generation-curse-wealth-why-riches-dont-last-michael/ > What can be done to end this cycle. You gave the answer when you said "Yeah some people escape poverty by working and luck."
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Tell that to the French!
Because the French Revolution didn’t have any negative consequences
Are you serious? 🤣 There were indeed some achievements of the French Revolution, however, overall, it is viewed as a failure because of the civil disorder, political turmoil, economic hardship, power greed in the leaders, opposition from external powers, political divisions, and execution of *thousands* of people. It also led to more than 25 years of bloody violence and warfare across Europe and the occupation of foreign countries. Are those enough "negative consequences" for you?
I think it’s viewed as a failure because it ended in a dictatorship
Is that not a negative consequence? Are you contradicting yourself?
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We need all consumer goods to be like televisions 300$ for a 60" led4k.
According to human history only revolt fixes this.
Reality answer no one is coming to save you. You have to do it yourself with in the system you’re born into. With the choices you make. It’s been that way forever. 100 years 😂 There have always been wealthy people and there will always be poor people.
The third generation as they blow through the money.
Revolution
A lot of people don't like to admit it but when you grow up in a developed country being impoverished is a choice. Often times its making one bad choice after another and racking up more debt than you can manage. I have 0 debt and live with in my means. I don't spend money I don't have and I don't blame others for my problems. Manage your money right and quit looking for someone else to blame and you realize life ain't that hard and ain't that bad.
I grew up very poor. The local news even had a new article about how poor we were. Going to school after that was great wasn't it. So according to your logic, it was my fault being born poor 🤔 it's my fault I was sent to a bad school district. It was my fault my parents had addictions. It was my fault I had to choose between going to school or working a low wage job to feed myself as a teenager. Yeah that doesn't sound right but growing up poor made me who I am and I will always stand up for the less fortunate. I will always stop and ask someone if they need anything. I don't drive by a homeless person on the side of the road and say get a job like the rest of us. I just don't see the justifications of someone having so much and everyone else having so little in America nobody should ever go hungry but we do. Because greed has taken over.
Sweetie you ain't the only one who grew up poor. I grew up as poor as anyone else. Unfortunately you've paid for the bad choices of you parents and your grandparents as harsh as that sounds. I paid for it too before I was 18. After I moved out and started taking care of myself the only time I didn't have enough was when I was blaming everyone else for my poverty. After I took responsibility for my future everything got better. Getting out of poverty isn't comfortable and there's no one else that's going to get you out other than yourself.
I'm not poor anymore I'm just saying you can't blame someone born into poverty for being born into it
I personally, know people who failed school throughout...and still landed profitable business deals that I could never dream of.. all because of nepotism. Meanwhile, I've been an A and B student all my life, and I still haven't managed to pull myself out of poverty ...in my 30s. This is how I know, most of those motivational speakers that talk about "the grind" are only telling half the story. They don't like talking about how much **luck** it takes. What **grind** were the NEPO babies on when they failed their way through school and still inherited their parents' businesses? Does this make me sound bitter? Maybe. But so what. OP. Some things in life just aren't fair.
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Completely missed the point of this post my dude
Demographic collapse. When people can't afford to have children, population collapse may very well be the result.
I hate to say this but I've noticed more of my less fortunate friends popping kids out like rabbits and my well off friends have 1 or none
[Generally speaking the wealthier a country gets the lower the birth rate](https://pca.st/episode/5d5cc836-643a-4e48-9d2d-62f4b56fea3e)
If you look at China, the way to end the control of a family is just 100million dead and instill a new family. And I don't think its necessarily a bad thing. 100 years ago you cant even look at a noble in the eyes or you will be beheaded but now you can at least pretend that you are both equal humans. This is the same in Europe, only select few families are still royals but honestly they are just figureheads. I'm not saying they are poor though, people with royal bloodlines do still control significant part of world economy. What you personally can do is not let your children believe Disney's propaganda. These families endure for centuries because they never believe in love and always marry for their advantage. There is no such thing as a rich princess marrying a commoner. So if you instill cold heartedness to your children and they instill the same and so on, in 10 generations your bloodline will climb the social ladder to the top if they all marry advantageously. Also, of course, don't follow the inheritance law that just want to break the wealth. Wealth need to be concentrated thus you should only have one child (usually first born son) to get it. The others can get the dividend. You may not get the wealth now, but remember everything starts small!
[REDACTED] has been and will always be the answer.
A general strike could save us all. It's been historically proven that we just need 3.5% of the population to strike to see political reform. Visit generalstrikeus.com for more info
This might be controversial but wealth is earned. Poverty is escaped and that's a choice. It may be harder for some over others to escape it but it can be done. My father ruined our family and after working for 40+ years has not a dollar to his name because he was constantly blowing his money on things for himself. He's a horrible man. That being said I started out in debt from school and had to claw my way out by working multiple jobs, walking to work and eating very little. I am finally am starting to see the fruits of labor. It was a CHOICE for me though. I was around drugs but chose not to do them, worked hard and told myself "NO. I deserve better!" Every single day. If I chose the other road I would be continuing the poverty chain. I want to give my daughter a better life than I had. My husband and I are working our butts off to get to that goal.
This was such an inspiring post, thank you. I'm so glad you're on your way to financial stability.
Which families are you concerned about? The Kushners? The Kardashians? You’re gonna need to be more specific
Anyone with a billion.
I mean it’s easily googleable but the best known would be the Rothschilds, Rockefeller, and Morgan’s. Most would consider there to be a “top 8”
Communism?
Democratic Socialism. We already have it , but need more.
Communism has a lot of corruption
Every system of government ever devised has a lot of corruption. The difference is that under capitalism that corruption is perfectly legal under the guise of public private partnerships.
Social democracy is what you’re looking for
Spontaneous worldwide atomic fallout
The Rumbling
A rebellion and then in 100 years the wealth will once again be divided up amongst a few while the majority get less. That is the way of life
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How is this obvious, it’s not only untrue but I would have to ask… name the families running things for hundreds of years? And let’s assume that the VanRiches family was made poor… how does that make you less poor? If I bankrupt the McHavemoneysons do I become more well off?
Sounds like you live under a rock
Ok, assume I do and I am just ignorant name the families. The Hapsburgs? The bilderburgs? The house of Wessex? It’s supposed to be obvious right?
There are 2 families that own my town.
They're a McHavemoney son
What family do you belong too 🤔
Not sure that what you are describing is "generational wealth control"
Think about your area and what family controls almost everything it's very common my area is controlled by 2 families they own 80% of everything and have total control over laws that are passed
You’ve described the Pareto Principal.
I misunderstood what generational wealth meant my bad
Generational wealth is something that is built off the backs of hardworking forward-thinking individuals who sacrifice many things so that their progeny can have an excellent chance at building a better life. I know that IF I did have children that I would want to give them as much of an unfair advantage as I possibly could... 88% of millionaires are self-made, and 68% of those who are worth over 30 million are also self made. Usually wealth doesn't last more than 3 or 4 generations because tough times build strong people, strong people create good times, good times create weak people, and weak people create tough times...
Universal basic income, funded by money saved by automation. Instead of the savings going to the corporations, it should go to the basic needs of all. And I mean the true basics so housing, food, water, health care and that's it. If you want more, work for it. Contribute to society.
Imagine escaping poverty by working lol 🤔
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You know the old saying; "America doesn't have poor people, just temporarily embarrassed millionaires."
It just haphazardly happens. The people who were born into wealth loss touch with the understanding of how the other side lives. They make mistakes and loss it all, but that is uncommon.
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I'm ready people, where are you!
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It's going to take people growing a pair and standing up to power. Sadly everyday it looks like people become weaker and weaker and the balls just become smaller and smaller :(
You have to work yourself out of poverty. Ask yourself this question why am I poor?
Omg. I'm going to give you the benefit of the doubt and just say your comment was unoriginal.
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I hope you don’t actually believe what you just wrote. That’s incredibly dumb
Crabs in a bucket is a thing.
Stupidest thing ever written
Insane
in one of these generation, they will get greedy and take too much, working class will have had enough and will stick their head on spikes
I feel that's coming
For the rich to be prosecuted as aggressively as the poors.
Ending that 'cycle' will have zero effect on your life.
Every single one of us foolish slaves earning below $200k/year needs to simply stop participating in money-based social records, and instead evolve into a version of humanity that doesn’t need absurdly wealthy individuals, bloodlines, AND/OR corporations/businesses to dictate every aspect of their lives via perpetual reliance on a commodity-based consumer-driven system that will always favor those who have the ever-increasing yet never tangible wealth leveraging credit and speculation and offshore accounts & endless militant advert misdirection always imbuing a sense of dependence on products and services designed to create profit over utility. Always leveraging the silly monetary notion of perceived value within their own rigged system to mitigate any chance of losing power that relies on all of us slaves working for them believing we need to have and use what they want us to. Basically everyone needs to wake the fuck up, realize everything that exists can exist without money, and collectively it is possible to rise above the illusion of democracy and shatter the spectacle of all political systems that enforce law written by currency Etc
We need to exchange kindness and compassion and invention and healing and art and experiences and provide for one another and offer everyone through collaboration the ability to belong to their immediate surroundings and the people (including animals and trees and all living things and all inanimate things) within it. We need to learn how to prosper and make one another prosper independently of those who will always make what could be better for everyone only good for themselves. I can’t say what I am trying to say or convey it or articulate it any way that is convincing enough to move masses, and that’s what need occur. A message that spreads like wildfire and eliminates want of more. Or cap wealth and stop inflation, make money tangible and eradicate plutocratic governance of monopolized systems protected by laws only written because the constituents who authored and passed them were puppets of an polluted pride given power by the people who should be and have been in violent opposition to it
Voting. Simple as. The same family? What family?
As much as I absolutely advocate for voting, it’s not “simple as” that. The government system is so incredibly flawed and needs an overhaul.
i wish we could actually tax the ultra-wealthy like... *effectively*
Dems say they want to tax the rich but have no follow through
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Yes but the bigger problem is tax loopholes, offshore accounts, legit crime, allowing lobbying, etc
Yeah, obviously lobbying is the main issue. But that's not going away anytime soon
True
We would need to reform the taxation system and also inheritance laws
Stop living on credit and actually work your ass off for a good job. Vast majority of people are not born into generational wealth. Every choice you make has led you to this point in your life. If you dont like where you’re at then make better choices!
WW3
War just makes the rich richer you don't see many wealthy people fight in wars
That’s not true for huge wars like WW2, there were A LOT of famous/rich people who died
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I really don’t think a revolution is possible in the same way that it was in the 60s and 70s. Modern technology has had too much of its distorting impact. We can actually have billionaires now because all the money can be stored on a computer you couldn’t physically store that much cash. In ancient times when wealth got to concentrated, the peasants would physically steal it you can’t do that when all wealth is digital. The main problem is wealth being digital has allowed concentration to become ridiculous, and given some insanely rich people more wealth than entire countries. I don’t know what could reverse the trend
The amount of money people can have has nothing to do with a bank being able to physically store money. When you give your money to a bank, it doesn't just sit in a vault as cash, it is invested in other ventures to make the bank a profit using your cash, and they record how much of your money they were given (it doesn't have to be a computer, it could be pen and paper). That's why the market can crash if everyone panics and tries to withdraw all their money at the same time, the bank doesn't actually hold onto it and wouldn't be able to fulfill all the withdrawals. That's why the federal government insures up to $250,000 (iirc) for personal bank accounts, so people don't freak out during economic downturns and try to withdraw everything before the banks run out of money to hand out.
* Please Read - Data Important * Just to give everyone a base understanding of the concern about the ultra rich. [https://lcurve.org](https://lcurve.org)Look at the www.l-curve.org. I first saw this graph in the late 80’s. [https://givingpledge.org](https://givingpledge.org) where the wealthy are giving over 50% of their wealth away. I think Bill Gates also saw the above graph. Doing more about this global problem is outside of my circle of influence, however helping one individual at a time is not. There will always be “poor” among us.
1. Stop whining. Start grinding. 2. Educate yourself and learn new skills 3. Use technology to improve your life and economic opportunities 4. Learn finance and how to manage your own money
It's not hard to get out of poverty. However, most people don't have what it takes to get out of it. There is a reason poor people stay poor (and its not the system). Persistence, hard work, money management/financial literacy, delaying gratification by investing instead of buying cool stuff...these things are hard and it's easier to go on Reddit and complain about the system than doing any of those things.