These "morons who don't know how to manage money or pay off debt" are the government. While I don't think that poor people don't contribute (they're vital,) I do think that the average middle-class American is completely ignorant when it comes to finance. I blame credit cards. Foreign lenders, mainly Asian, are supporting this country because no one understands the concept of saving money. Yes, it's very hard to save when you're getting paid minimum wage. Yet if the average worker could reduce their living expenses by just 30% and start a form of personal savings, along with a portfolio of assets, this country would be in much better shape. Unfortunately, most people think that the government is responsible for their well being (social security, medicare, etc. - all worthless) so they go out and spend every paycheck, living month to month with no real capital to their name. I don't think it's fair that 3% of the population should pay over 90% of the taxes. That's ridiculous. The 'rich' don't owe the 'poor' anything. It's perfectly easy to succeed financially in this country, but the problem is that hardly anyone understands finance. Raises don't help either - someone gets a raise and they just increase their living expenses proportionally.
I think everyone should have the responsibility to manage their own finances, rather than having the government dump tax payers money into programs that, in theory, do this. Public education has proved that putting more money into programs doesn't help a thing.
Regarding minimum wage, the thing is it shouldn't increase. But then again, inflation shouldn't exist either. Inflation exists because of debt. Debt exists because of carelessness. The poor are the ones who are most in debt, so you could make a case for this inbalance being self-inflicted. Unfortunately, if minimum wage increases, this money can't come out of nowhere. People will be laid off, and unemployement will rise. It's a delicate balance, and lawmakers so far are right in not adjusting it.
I think everyone should have the responsibility to manage their own finances, rather than having the government dump tax payers money into programs that, in theory, do this. Public education has proved that putting more money into programs doesn't help a thing.
Regarding minimum wage, the thing is it shouldn't increase. But then again, inflation shouldn't exist either. Inflation exists because of debt. Debt exists because of carelessness. The poor are the ones who are most in debt, so you could make a case for this inbalance being self-inflicted. Unfortunately, if minimum wage increases, this money can't come out of nowhere. People will be laid off, and unemployement will rise. It's a delicate balance, and lawmakers so far are right in not adjusting it.
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