Have you ever noticed that when it comes to something like income inequality, it’s always people who have enough income that seem to be demanding that other people close the supposed income inequality gap?
Do people realize that income inequality isn’t even a real thing? So, if we are taxed at a rate that provides more people more income, what do you think they will do with that money? If a person cannot sustain themselves on their current income, what makes you think that once they get more income, that it will somehow suffice? Have you ever noticed how no matter how much money a person has, if they are not diligent with it, no amount will ever suffice?
So, if people don’t know how to make their money work for them, no amount of money will ever seem equal.
A smart person learns how to not only keep more of their own money, but they also learn how to make their money grow.
A person who doesn’t know how to spend money, will waste it, quickly.
Take NFL players for example and let’s compare them the MLB players. There are more financially broke NFL players than there are MLB players. Why is that you ask? Because, the overwhelming majority of NFL players receive massive amounts of money at a very young age and they generally do not make it to the NFL through the “minor league” pipeline. Thereby, they usually have never had the life experience of actually learning about how to live below their commensurate income. When most NFL players get a contract, their money becomes a liquid rather than an asset.
When it comes to the MLB, most players only get there after years of playing at the minor league level. In the minors, the players are paid very little and due to their training and game schedule, they often do not have the time to have a job on the side. So, once a player makes it to the MLB, they have learned the hard way of how to not just budget, but to also make their money work for them.
In closing, income inequality isn’t a thing. Since regardless of level of income, if a person doesn’t know how to survive on what they have, then they simply lack the skills and knowledge needed to plan, budget and set and stick to financial goals.
The only way to learn and understand is through physical and literal experience.
More money only equates to more spending, not a better life.
Money is not the problem, the mindset is.
If you cannot be strategic with the money you already have, what makes you think that more money will solve your problems?
If you assume that money is something that needs to be constantly spent, then thats all you will ever do with money.
The longer you wait for someone else to fix your problems, the longer you will continue to wait.