Why Do Some People Get Rich While Others Stay Poor?

Imagine you and your friend both start with the same amount of money. But one has a job that pays more, gets raises, and saves better, while the other works long hours for little pay and can't save much. Over time, the first person becomes rich, and the second stays poor. That's wealth inequality.

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Examples

Tom has a good job with a company that pays well, he gets raises every year and saves money. His friend Jerry works at a store for minimum wage, can't save much, and stays poor.
Rich kids go to expensive private schools where they learn about investing early, poor kids go to underfunded public schools and don’t get the same chance.
A family that owns a restaurant passes their business down to their children, giving them a big head start in life.

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Categories: Politics · wealth inequality· economic disparity· social class· rich vs poor· socioeconomics