Please take a moment to consider the following: Rich people earn money by investing and reinvesting their money in things that create a profit which provides them with passive income. Most Middle class people earn a living by working on a professional mid to high level paying job or own a business which provides a similar income. Some of them have enough disposable income to accumulate savings in a financial vehicle which pays interest and/or use it to make investments that create a profit. The outcome of both methods is passive income. What both of these groups have in common is the financial capability to create a passive income. For the middle class this is a stairway to becoming wealthy or rich and immune to poverty due to unemployment, a declining economy, a lack of education or an unfortunate life event. In stark contrast, poor people do not have the luxury of disposable income which could provide an economic opportunity to accumulate savings or make a sufficient capital investment in anything which could produce a profit or passive income. For them it is usually a daily or monthly struggle trying to keep food on the table and a roof over their head. Most of them rely on one or more social service or entitlement programs to accomplish this goal. This means they do not make enough money to supply their basic everyday needs. Here is a simplistic understanding of how to acquire enough money to live above the poverty level: Other than having a job, begging, stealing, taking, cheating, scamming, a gift, charity donation or printing it yourself, the purchase or sale transaction of a product or service whether it’s tangible or intangible, is how people and businesses make money. All people participate in these product and service transactions, but unfortunately here in America 80% of the people do not benefit from this activity above the level of wage earner. The end result is 20% of the people possess over 90% of all financial assets and respectively the top 1% has 43%. After analyzing these two important realities with keen focus on the bigger picture, we determined that the best common sense way to reduce poverty along with extreme income and economic inequality is to provide an opportunity where all people including the very poor, elderly, unemployed, handicapped and disabled could participate in earning income from their current and future purchasing activity. This will literally level the income opportunity playing field for everyone, while greatly enhancing the efforts of others to create jobs and provide more training and education opportunities for those in need. By no means should this effort alone attempt to make poor people become wealthy or rich , but only to bring them to a point of existence above the poverty level and provide an opportunity for further advancement in society without resorting to crime or relying on public assistance. The basic idea of this concept is to redirect a small percentage of purchasing activity profits back into the pockets of the purchasing consumers for them to spend again. It’s sort of a self-perpetuating stimulus package that funds itself from things that everyone is already doing. There are several ways we could achieve this within the framework of United Shared Savings Network, but we leave that issue for a future conversation.
Posted on: Wed, 25 Sep 2013 03:01:49 +0000
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