Myths, mistakes and misunderstandings about money

What Americans don't understand, have wrong, or forget about when it comes to earning, managing and maintaining their money for a sustainable life and lifestyle.

The following are topics that the Covid 'pandemic' and the current political mayhem have brought to the forefront. Answering these questions should help to mitigate a to of the damage of those two viruses impacting our lives. Let me start with some critical questions. Answers -- or at least a history and analysis of the question -- will have to come to subsequent posts.

Does the bible say, "Money is the root of all evil"? Or is more accurate to say, "While money might not make you happy, poverty will make you miserable"?

How much do Americans pay in taxes? Who pays taxes what share of taxes?

What is more important, wealth, income or consumption?

Does it "take money to make money"? Can you grow wealthier even when you are not working? And, if you can, is that fair?

Are the rich getting richer as the poor get poorer? Is the middle class disappearing? Are middle class wages stagnant?

Is personal debt "dumb" or an important tool -- or even a necessary evil -- in the road to success?

Is there a secret to the stock market?

Is there a need for a 'living wage'? Do minimum wage laws help or hurt the poor? the economy? the chances for self-improvement?

Is a universal basic income -- a negative income tax -- a good idea?

Is Social Security sound? Is it an insurance system, a savings system, an effective expression of socialism, or a Ponzi scheme?

What financial benefits or rights does a person living in America -- or a U.S. citizen -- have the right to demand from the government?

Where can the phrase, "life, liberty, and the pursuit of happiness," be found, what does it mean and why is it important? Where can you find the cry for "Liberty, equality, fraternity!" and what does it mean?

Is social justice a measure of equal opportunity, fair treatment before the law, i.e., due process. or income equity?

Does 'social justice' or 'equity' require approximately equal incomes and/or heavy taxes on wealth and incomes? If yes, how could that be achieved and then maintained?

Are inheritance taxes good for the economy and social justice, or unfair to the inheritors as double taxation?