Taking money from those that have managed it well and giving it to those who don't manage money well doesn't makes any sense to me. The process is commonly referred to as "redistribution of wealth," which I think is a misnomer since it is only dealing with one aspect of wealth, money. Here are my thoughts on this matter:
In my experience, building wealth is about developing plans, making choices and doing the work to achieve the goal. Money redistribution is about meeting qualifications (e.g. income, dependents, etc.) to get "free" money. Of course, I am not opposed to short term safety net for people who have fallen on hard times. However, I also believe there are people who build "free" money payments into their plans and lifestyle. Unfortunately, "free" money often doesn't change the recipients mindset, which is the real improvement needed to truly redsitribute wealth.
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This is not financial advice. Please consult a professional advisor.
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1 comment:
Giving someone money is very similar to the old parable about giving a man a fish. When given to them, they will become dependent. Whereas teaching them how to fish or providing education or skills training to the individual allows them to develop, earn their own money and become independent.
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