The poor do a lot of dumb things: They don't track their money, they rack up credit card debt, they don't plan to minimize taxes, they depend on payday loans and check cashing services, they drink and smoke and do drugs, they constantly overdraft their bank accounts, they spend too much on entertainment, etc. The middle class are better with this, mainly because they have more money and so are less likely to be fined for non-payment.
I know some family approaching 60 who are still paying off the house, 2 cars, and an RV. If that wasn't bad enough, they play the lottery every week because "somebody has to win".
I still think we should abolish social security, but after seeing countless examples of people racking up debt buying stuff they don't need and then depending on it in old age to avoid starving, it's almost enough to make me think it has some merit.
I feel like that entire line of thought with government-enforced retirement accounts leads to increasing taxes on the poor since they can't be trusted to responsibly spend it. Which actually might be what a lottery is.
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The poor do a lot of dumb things: They don't track their money, they rack up credit card debt, they don't plan to minimize taxes, they depend on payday loans and check cashing services, they drink and smoke and do drugs, they constantly overdraft their bank accounts, they spend too much on entertainment, etc. The middle class are better with this, mainly because they have more money and so are less likely to be fined for non-payment.
I know some family approaching 60 who are still paying off the house, 2 cars, and an RV. If that wasn't bad enough, they play the lottery every week because "somebody has to win".
I still think we should abolish social security, but after seeing countless examples of people racking up debt buying stuff they don't need and then depending on it in old age to avoid starving, it's almost enough to make me think it has some merit.
I feel like that entire line of thought with government-enforced retirement accounts leads to increasing taxes on the poor since they can't be trusted to responsibly spend it. Which actually might be what a lottery is.