How can we close the gap between rich and poor?

Here are seven ways that can and should change:

1. Break down the social barriers.
2. Improve public schools; unify them.
3. Raise the minimum wage to 1960s levels, at least.
4. Tax the rich at a reasonable rate.
5. Give workers a voice in their companies.
6. Reign in crazy-huge donations to political campaigns.

Is there a widening gap between rich and poor?

A recent study released by the Government Accountability Office in the US reveals that the expanding gap between rich and poor is not only widening the gulf in incomes and wealth in America. But that it is also helping the rich lead longer lives, while cutting short the lives of those who are struggling.

Why the rich keep getting richer?

The data shows that the rich really do get richer, and it’s in large part because they get higher returns on their investments. If someone who’s in the poorest 25\% of the spectrum would have invested $1 in 2004, they would have, on average, $1.5 by 2015. That’s a return of 50\%, and it’s not bad for 11 years.

What is the difference between the rich and the poor?

The poor see a problem and they chalk it up to bad luck and quit trying. The rich run into problems and might scratch their heads for a while, but they don’t give up. They’ll work and work until they discover a solution to the problem so they can win in the end. A few years ago I heard a compelling story that fits this idea perfectly.

Do the rich have a “both” or “either” mentality?

The rich have a “both” mentality, not “either or”. Poor people often talk in terms of hourly pay, whereas wealthy people know that an hourly income is not nearly as important as someone’s net worth. One can earn quite a lot of money per hour, but if they don’t learn to keep any of it, they will still be broke in the end.

Why do poor people tend to be hardest on each other?

In other words, other poor people are poor because they make bad choices – but if I’m poor, it’s because of an unfair system. As a result of this phenomenon, Pimpare says, poor people tend to be hardest on each other. He gives the example of a large literature in anthropology and sociology about women on welfare published since the 1980s.

Why do the rich believe that they should be paid?

The rich believe that they will be paid in direct proportion to the value that they deliver to the marketplace. In other words, if they are integral in forming a product that nearly everyone in the world wants/needs, then they should be compensated accordingly.