Poverty is one of the major challenges that our country has been struggling with. 60% of India’s population, which means 812 million people, live below the poverty line which is caused by lack of employment, meagre wages, and massive population, just to name a few reasons.
There are various socioeconomic reasons why poverty is so rampant in our country. Which is why when an entrepreneur took to Twitter to write that the “Poor are poor because they spend most of their money”, it didn’t go down well with several people online.
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Many took to the comment section to school her about wage gap and financial privilege. While some highlighted that the poor are ‘poor’ because they barely have the money to survive, others expressed how rich people are privileged to have “disposable” money which they can risk in investments.
The poor are poor because they don’t have any money – they are just trying to survive.
The middle class are middle class because they have enough to survive but not enough to invest.
The rich get richer because they have disposable income – which they can then invest.
— FaTs (@DoctaFats) August 30, 2021
A statement thoughtlessly made without regard to the stark differences in wealth and access to opportunities that the poor faces as compared to other groups.
— Akhil Jain (@AkhilJa20441968) August 30, 2021
The poor have to spend most of their money because the rich people exploited them so much that they are left with nothing to save
— Wai (@WNokbe) August 29, 2021
The poor are poor because they don’t have money to spend.
The middle-class are barely middle-class because they’re having to make less money stretch more.
The rich are rich because they have massive advantages or lower classes and the systems are rigged to be this way.
— Straight Investing and DD (@Straight_DD) August 30, 2021
Your philosophy assumes all 3 groups have equal money when they started
Karan Johar type logic pic.twitter.com/XIKEWDso6B
— Astraea ❤️ (@GiaiaAstraea) August 30, 2021
Poor are poor because their income is not enough to meet their consumption needs.
Middle class…, their income just meet their consumption needs and not enough to save for the rainy day.
Risk capital will get released when your consumption needs and savings needs are fulfilled.
— Pun Intended (@Visuvam) August 30, 2021
It’s not that poor and middle class people don’t want to invest, their basic consumption expenditure take up all or most of their income
— Rishabh Jain (@Rishabhjn21) August 29, 2021
Rich can invest in themselves and other value-adding resources because they can ease or buy up enough time for that. Not something a middle or working class family can afford to do so. Please be a bit more sensitive before making such comments.
— Vickey (@GVigneshKannan) August 30, 2021
How condescending! The rich are rich because 99% of them are born rich. Rags to riches is not the norm in this world, the system is not designed to let you achieve this often, one needs to take a lot of risk. What allows you to take risks? That’s right, money!
— Viv (@goldene78571019) August 31, 2021
Money begets money. Poor and middle class have insufficient or less money whereas rich have more than sufficient to invest. Poor are busy in earning bread for family where as rich are busy in finding ways to multiply his money. Both are incomparable in terms of investment.
— Khaja (@Khaja05492652) August 29, 2021
Madam, you need to live in a slum for at least a week to understand how much the poor earn and how much they spend. Anybody can make money by investing, if somebody else has earned for your initial investments!
— D K Nair (@DKNair4) August 30, 2021
But income is not same. Poor spend all coz they need food. Middle class saves by reducing their expenses secure future, but rich people invest to save taxes and to become more richer
— anu (@gloryanu) August 30, 2021
Making such statements about those suffering from dire financial constraints is not just ignorant and insensitive, but is also triggering for many on a social media platform.