GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Poor people spend 9% of income on lottery tickets

raymor · 03-31-2012, 01:24 PM

Quote:

Originally Posted by Buff

The vast majority of the poor in the United States are poor because they have high time preferences (http://en.wikipedia.org/wiki/Time_preference) and low IQs.

I've swen many examples of that. I suspect time preference has even more to do with it than IQ. My dad grew up in a tent worj a dirt floor, an extreme example of "disadvantaged". He worked sixty hours per week to go to college in order to have a better life years later. He kept working like yhat, eyes always on the future, after college and ended up flying around on corporate jets.

The investment of work my dad made put me in "privileged" class. I was more interested in having fun in the moment. I figured the future would take care of itself. I ended up living under a tarp myself.