
Income Inequality is hot potato issue.
Certain politicians, who see themselves standing up for the poor, cry in outrage over the unfairness of income inequality.
The clarion call of these politicians almost always involves some scheme to redistribute the income and wealth from the have’s, to the have-not’s.
The problem with this scheme is that, in countries that embrace Capitalism, like America, it fails 100% of the time.
Why?
Income inequality is a symptom of a disease that income redistribution can’t cure.
That disease is Generational Poor Habits.
Generational Poor Habits are bad habits that the poor learn from their parents, culture, neighborhood and/or friends. These habits drag them down in life, causing them to fail and struggle financially. They can even cause poor health and chronic disability.
Generational Habits can also be Rich Habits – learned good habits which lift you up in life. These habits can help you to become successful in your business or career. They can also help you to become frugal, thrifty and financially secure. Lastly, Generational Rich Habits can help improve your health by inculcating in you the daily exercise habit or healthy eating habit.
With regard to poverty, there are obviously outlier causes that habit change can never cure:
- Financial catastrophe caused by exorbitant medical costs of family members due to cancer or some chronic health disorder outside one’s control.
- Certain physical or mental disabilities that make it impossible to work or earn income.
- Random bad luck that negatively impacts one’s ability to earn income – A fire that burns down a business, a hurricane, flood or earthquake that destroys a community, etc.
- The death of an income earner.
- Other circumstances for which a poor person has no control over.
No political solution can cure income inequality unless that political solution forces habit change and reduces or eliminates Poor Habits.
The permanent solution to income inequality, therefore, is to teach the poor habits that will help to end their poverty and create wealth. I call these Rich Habits.
Wealthy parents teach their kids these Rich Habits. It’s one of the great benefits of being raised in a wealthy household.
But, what if a poor person could learn the habits the rich teach their kids?
This is why my Rich Habits research is so profound – I did that work. I uncovered the Rich Habits the wealthy teach their children. And anyone can forge these Rich Habits.
Discovering these Rich Habits levels the playing field and puts the poor on equal footing with the wealthy.
If you were to take the average poor person and reprogram them with Rich Habits, within ten years they would no longer be poor. They would rise up to the middle-class.
After another ten years, that same poor person could even rise from the middle-class to the upper middle-class and on to the top 2% of wealthy households.
Wealth and poverty are two different processes producing two different results. At the heart of both are processes known as habits.
With respect to wealth and poverty, Rich Habits put you on autopilot for wealth.
Poor Habits put you on autopilot for poverty.
My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You!
Tom, this is a great post. I love the part where a poverty minded person can be rich in 30 years or sooner. It would be great if you shared of success story of someone who did so. Keep the posts coming.
Great. As someone said (you?) – random/generated good & back luck. The random is out of ones control but the generated ones are well within.
“The disease is Generational Poor Habits!”
Love this point. I grew up in run-down trailer parks…much of this hits home, you don’t realize how true that statement is.