The Rich vs The Poor
The Rich vs The Poor
This war between the haves and have-nots has been going on for hundreds of years. It is the “Take from the rich” crowd versus the rich. The battle is waged whenever and wherever laws are made. The battle will go on forever. The problem is, the people who lose are the uninformed. The ones who get up every day and diligently go to work and pay taxes. If they only understood the way the rich play the game, they could play it too. Then, they would be on their way to their own financial independence.
An employee with a safe, secure job, without financial aptitude, has no escape. This is why, every time we hear a parent advise their children to go to school so they can find a safe, secure job, it makes us cringe.
Every time people try to punish the rich, the rich don’t simply comply, they react. They have the money, power and intent to change things. They do not just sit there and voluntarily pay more taxes. They search for ways to minimize their tax burden. They hire smart attorneys and accountants, and persuade politicians to change laws or create legal loopholes. They have the resources to effect change.
TODO
- https://www.cnbc.com/2024/07/24/1-million-hypothetical-portfolios-how-rich-kids-learn-about-money.html
- http://nybooks.com/articles/2016/06/09/why-the-very-poor-have-become-poorer
- Inside the Secretive Swiss Bank For the World’s Richest People: https://www.bloomberg.com/news/features/2021-05-11/secretive-swiss-bank-pictet-torn-between-old-money-and-new-risk
- How the Ultra-Rich Use Municipal Bonds in Retirement https://www.investopedia.com/how-the-wealthy-use-municipal-bonds-in-retirement-11714026