I don't think this level of aggregation is all that useful. Some people are poor because they squandered their opportunities and sabotaged their relationships. Some people are poor despite having good habits because they caught legitimately bad breaks. Some people were dealt a really unfortunate hand and really never had a chance.

Reply to this note

Please Login to reply.

Discussion

Some. For sure. But put system is designed to keep people poor. To keep the masses laboring. Economic rents work most efficiently when the masses work day in and day out for a dollar that is worth ever less…when they pay interest on houses for 30 years…when laws require that they have auto insurance…when healthcare is not an option unless they choose to pay a 30% subsidy to insurance companies…when 40% of their income goes to housing.

People like identify themselves with billionaires when they feel rich from a hard day’s work. But our hard day’s work provides us wages. Their day provides them economic rents, which come from taxes, interest payments, mortgages, and financial services…. extracted from your hard work.