Why should they save? They already know that those who do will have their savings redistributed to those who don’t.
That is a good point. As well, many in these groups simply do not comprehend deferred gratification. They do not plan for the future and live solely for today. Every group has some folks like that but some groups are mostly composed of such people.
Exactly. By the time they pay for the Smartphone, the car, the bling, etc...there isn’t any money for savings.
See my sister. She has no savings. My mother left her some money and she spent it on a 5th wheel and a car to pull it. Tomorrow is another day.