I always hear people at work say this. As if it is an excuse or justification as to their own personal financial situation. It’s like "Oh well, what can I do. The rich get richer."

The gap between the rich and poor continues to widen. Why is this?


Thanks,

B

The fact that Rich are becoming even richer can be the outcome of 'Money breeds Money.' If if you have enough money then you can utilize it towards breeding more money from it.

The rich get richer because they know that being rich means not just having money and network but also the right mindset, the essential traits and the know-hows to multiple their money when the opportunity arises.

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Payday Loans

It takes money to make money. And those WITH money can more easily make investments, save, withstand recessions, etc.

I agree.To take money to make money is easier than others.

Rich are rich and continue to be rich because of their mindset. Around 70% of the millionaires in USA are first generation millionaires. They didn't start with large pile of money. They got there with their discipline, hard-work and careful money management.

Without being financially responsible, one can't be rich or become rich.

Yes, I totally agree here. If I was to win a million dollars, I would put the entire amount in the bank or some place that gives the highest interest and live off the interest. The rich are doing the same. They are putting a lot of their money with places that yield the highest interest and that is how they are making more and more.

Agreed; all the whining about how rich people have an advantage is garbage. Of course rich people have an advantage, and most of them worked d@mn hard to establish that advantage.
Our country will continue to rack up record debts (both personally and publicly) until we change our collective cultural ideas about personal responsibility. Bailouts, welfare, wealth redistribution all send a single message: if you're successful, you will be punished, and if you're not successful, you will be rewarded.

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Brian
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I've been trying to figure this out forever

that is because rich have the resources to expand their wealth while poor are just trying to stay alive

oh well.. obviously because of the financial stability of the two.. the rich become richer because it's easy for them to invest on some business that would get them even richer.. while the poor? well, poor can start a small business.. with loads of sacrifice and perseverance,they can be rich in no time if they handle their business well..