Updated: May 18
1.) Poor People Think Rich People Wear Gucci (or Other Flashy Brands)
Luxury fashion brands are paying celebrities – you know… the folks poor people look up to- to wear their products with the single goal of getting poor people to associate their brands with success and struggle their way into buying overpriced goods.
The rise in consumption of what used to be luxury brands is actually driven by western teens (the majority of these identify as "black" or "African American"), millennials and China & India’s middle class. 55% of Gucci’s sales were made to consumers younger than 35.
That’s why Bernard Arnault, the owner of LVMH, is as of writing this article the richest man in the world, with an estimated net worth of $186.3 billion. Yep, the Louis V guy overtook Jeff Bezos.
When you see celebrities on the gram flexing in Gucci or whatever… these folks are getting paid or receiving the clothes for free. They’re taking money from you by putting this idea in your head that a pair of sneakers will make you happy and others will respect you because of it.
Poor people stay poor by trying to look rich.
2.) Poor People Think the Rich Pay More in Taxes Than They Do
Yes. Rich People pay substantially more in yearly taxes than the poor. That is solid fact.
However, what the middle class and poor need to realize is that the rich actually pay less of a percentage than they do. Substantially less.
If you work for a company than your taxes are ordinarily taken straight from your paycheck. It’s usually between 30 to 50% that the state keeps from whatever you generate in wages if you add it all up.
The rich and their companies operate with a completely different set of rules when it comes to taxation and this is what allows them to be tax free as long as they keep hiring people who want to be EMPLOYED and make a W-2 wage.
They are creating a job which allows the state to be able to take more money from people like you so they are incentivized by far less taxation to continue to create JOBS that can provide wages to be taxed.
It's really a dirty game!
This is what inspires the Kennedy Legacy Group to write articles that EXPOSES their secrets,
so that we can start to reverse the gap that is dividing the wealthy and those who are at a disadvantage.
3.) Poor People Think Rich People Are Good At Saving Money
There is a really big misconception about the rich, some people believe that they actually became rich by skrimping and cutting back on spending their money. By saving.
The reality is that rich people are actually really bad at saving. Ideologically they are not even interested in saving.
Rich people focus on increasing income, poor people focus on cutting down expenses!
4.) Poor People Think Rich People are the Celebrities (or at least hang out with them.)
It’s interesting when you realize the only wealth that poor people see is the ones who are wealthy on tv, so they associate these celebrities with wealth. By the simple rule of association, if you’re rich, you must know celebrities because you’re some kind of celebrity yourself. Right?
Some wealthy people know some cool people doing some really cool things but most of them don't. Most of them live really boring lives, or have most of their wealth kept and growing in very boring enterprises. The average rich individual owns a boring company: they install roofs, have a custom button factory in china or move things from one place to another for profit.
The more rich people you meet, the more you realize just how distorted your view about what it actually takes to make money. The owner of a logistics company makes more money per year than your favorite tv-series actor.
5.) Poor People Think Rich People Have Some Masterplan to Keep Everyone Else Poor
Contrary to popular belief, the rich do want the poor to have more money!
There are some very selfish people on the planet who have amassed large fortunes and some of them have used their fortune for some very nefarious reasons.
But, ordinarily the rich do want people to get out of poverty thinking because the more money the poor have, the more they are willing to engage in commerce.
Instead of thinking in terms of poor, rich or the middle class, think of it as: PRODUCERS (BUILDERS) & CONSUMERS
Some people make things that other people buy and use.
Almost everyone rich is a builder. If you’re unable to build or create value you’ll never be rich.
Now is the time for us to make the switch to having a producer (builders) mindset as opposed to a consumers mindset.
Remember we were taught in school that consumers were bugs.