Posts Tagged ‘poverty’

“The way we treat retirees in this nation is broken…

When the government created Social Security, it was as an anti-poverty insurance program… not a way to pay for your entire retirement. In fact, it began with only a 2% payroll tax and promised to never take more than 6% of a worker’s pay.

That promise was broken.

Today, Social Security takes a combined total of 12.4% of your pay.

And what do you get guaranteed in return?

Nothing.

According to the Social Security Administration’s own website, the Supreme Court ruled in 1960 that citizens have no legal rights to Social Security, no matter how long they paid into the system.

Social Security’s costs this year exceeded its income for the first time since 1982.”

-P.J. O’Rourke

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Good Mind?

Posted: September 5, 2017 in Thought for the Day
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“Poverty of goods is easily cured; poverty of the mind is irreparable.” -Unknown

“Do not the idler and the spendthrift know, even in the midst of their glorious fling, that they are heading for a future of debt and poverty.” -Henry Hazlitt

“No matter how skilled you are as an investor, upping your savings rate is more powerful to your wealth than either increasing your income or increasing your investment returns.  That’s because it’s a one-two punch… you increase what you have to invest, while decreasing what you spend.  You also learn how to live longer on less money….  Remember that ultimately, how much you save will be the difference between a lifetime of poverty… or one of wealth.” -David Eifrig

“No human being has ever become wealthier by spending.  Not a single empirical example.  And no society has ever raised itself out of poverty, except by carefully saving.” -Porter Stansberry

Poverty Cure

Posted: June 10, 2016 in Economics
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“You can’t cure poverty with money….  That’s because money is just a tool.  Just as you can use a hammer to build a house or tear one apart, you can use money to build wealth or to destroy it.  It all comes down to the wherewithal of the ‘wielder’.” -J. Reeves

Mind Poverty

Posted: January 12, 2016 in Money Matters
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“Being broke is temporary but poverty of mind is permanent.  You have to avoid poverty of mind.” -Daymond John