If you gave every poor family, no matter the color, a million dollars. I would say within 5 years we would be back to where we are today except with bigger problems. Money will not solve anything. The left believes that if everyone is on parity with wealth that would solve everyone’s problems. I have my doubts!
If you gave every poor family, no matter the color, a million dollars. I would say within 5 years we would be back to where we are today except with bigger problems. Money will not solve anything. The left believes that if everyone is on parity with wealth that would solve everyone’s problems. I have my doubts!
Reparations: it is ludicrous to believe that everyone with a certain pigment needs the government’s help and that once given a ton of money people will automatically start making good choices. Not sure that is true.
We've seen proof of this over and over with lottery winners. Most people who get a big lump-sum payout are worse off in 5 years than they were before the payout.
Not all poor people are poor due to bad decision-making. But bad decision-making definitely contributes to poverty. And giving someone who handles money badly a whole lot of money usually ends in grief.
My BIL is a good example of what happens when you give a lot of money to a person who always makes bad decisions. When my in laws died (really after the second one died), and my husband and his siblings inherited a fair amount of cash, the in-laws money manager told my H, the executor, that inheritance was a lot like winning the lottery. Most lottery winners are broke 3-5 years later. A lot of people who inherit a large sum of money are also broke a few years later. This from a financial advisor who has seen it happen over and over with different families. My BIL had already gone bankrupt once and been bailed out by his parents. He got that inheritance and paid cash for a house (couldn’t get a mortgage due to bad credit rating due to said bankruptcy). Subdivision of said house went belly up, had to sell at a loss, rented and bought second house that was destroyed in a hurricane due to lousy location, etc etc. One bad decision after another and absolutely NO retirement savings. Zilch. Will be working until he dies, probably in some rental unit. Money alone does not save people.
If you gave every poor family, no matter the color, a million dollars. I would say within 5 years we would be back to where we are today except with bigger problems. Money will not solve anything. The left believes that if everyone is on parity with wealth that would solve everyone’s problems. I have my doubts!
Reparations: it is ludicrous to believe that everyone with a certain pigment needs the government’s help and that once given a ton of money people will automatically start making good choices. Not sure that is true.
We've seen proof of this over and over with lottery winners. Most people who get a big lump-sum payout are worse off in 5 years than they were before the payout.
Not all poor people are poor due to bad decision-making. But bad decision-making definitely contributes to poverty. And giving someone who handles money badly a whole lot of money usually ends in grief.
My BIL is a good example of what happens when you give a lot of money to a person who always makes bad decisions. When my in laws died (really after the second one died), and my husband and his siblings inherited a fair amount of cash, the in-laws money manager told my H, the executor, that inheritance was a lot like winning the lottery. Most lottery winners are broke 3-5 years later. A lot of people who inherit a large sum of money are also broke a few years later. This from a financial advisor who has seen it happen over and over with different families. My BIL had already gone bankrupt once and been bailed out by his parents. He got that inheritance and paid cash for a house (couldn’t get a mortgage due to bad credit rating due to said bankruptcy). Subdivision of said house went belly up, had to sell at a loss, rented and bought second house that was destroyed in a hurricane due to lousy location, etc etc. One bad decision after another and absolutely NO retirement savings. Zilch. Will be working until he dies, probably in some rental unit. Money alone does not save people.