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805+ Level|   Non-Math Related|         
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 15 Jul 2024, 23:17
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Fareena:

People are ignorant about financial planning -> People destitute in their old age -> People Unable to afford even basic necessities.
Solution- Investing 20% of their monthly income into a state retirement fund will solve for good, the cost-of-living crisis among the elderly.

Flaw in above- There can be other reasons such as less pay, high inflation etc. (C)

Paul:

Conclusion is wrong. People should be able to spend or save their money as they see fit.
In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

Flaw in above- No reasoning at all, so unreasonable reasoning here from Paul.

Reasoning is irrelevant (B)

Ans- CB
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 15 Jul 2024, 23:38
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Answer should be B,C­ 
This was a tricky one
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 15 Jul 2024, 23:47
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Bunuel
Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.

Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.

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­Fareena
Due to improper financial planning many find themselves poor in old age. To overcome this government should mandate investment to the retirement funds. This would take care of finance of people in old age.

Paul
Rejects Fareena's colcusion and says people should be able to invest where they want and it's adult's responsibility not government's.

We need to find the statements which give flaw in Fareena's and Paul's statement.

1st column: Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
--> She's assuming that due to improper finance management only many find themselves in poor condition in old age and gives solution for that.

2nd column: Reasoning is irrelevant to the stated conclusion.
--> He's directly rejecting her conclusion by stating that it's individual's responsibility but didn't provide proper reason for rejecting conclusion.
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 15 Jul 2024, 23:56
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Fareena's reasoning states that mandating would solve for good, the cost of living crisis among the elderly. She assumes that financial planning is the only factor causing the crisis among the elderly. Thus her reasoning fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.

Paul's reasoning for declaring Fareena's conclusion wrong is that people cannot spend or save money if the government invests 20% of their monthly income. The flaw is that Paul ignores that individuals can still do whatever they want with their money even if the government mandates investing 20% in state retirement funds. Therefore Paul here incorrectly presumes that a particular factor cannot affect multiple phenomenon.
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 15 Jul 2024, 23:58
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To analyze the flaws in Fareena's and Paul's reasoning, let's break down their arguments and match them with the given flaws.

Fareena's Argument:
Fareena argues that the government's mandate to invest 20% of monthly income into a state retirement fund would solve the issue of lack of financial planning and thus solve the cost of living crisis among the elderly.

Flaws in Fareena's Reasoning:
Fareena presumes that this one mandated solution will address the entire problem without considering other potential contributing factors to the financial struggles of the elderly. This could include economic fluctuations, healthcare costs, unexpected life events, etc. Therefore, the flaw in Fareena's reasoning is:

Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.

Paul's Argument:
Paul argues that people should be responsible for managing their own finances and that it is not the government's role to mandate financial decisions.

Flaws in Paul's Reasoning:
Paul’s response is based on the principle of individual responsibility and autonomy without addressing the practical effectiveness of Fareena’s proposal in solving the specific problem of elderly financial insecurity. His reasoning doesn't directly engage with the potential benefits or outcomes of the proposed mandate. Thus, the flaw in Paul’s reasoning is:

Reasoning is irrelevant to the stated conclusion.

Selected Flaws:

Fareena: Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
Paul: Reasoning is irrelevant to the stated conclusion.
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 00:56
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Bunuel
Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.

Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.

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(1) Baselessly presumes that there can be only one solution to the stated problem.
Explanation: This is not a flaw in Fareena's argument, she never claims the suggested solution regarding Government's mandating of retirement investing is the only solution to the problem. Likewise (1) cannot be a flaw in Paul's reasoning, he doesn't provide any solution.

(2) Reasoning is irrelevant to the stated conclusion.
Explanation: This is not a flaw in Fareena's reasoning, she makes a conclusion which directly follows from the objective of her suggested solution. Paul does have this flaw in the reasoning as he while begins by saying that the conclusion drawn by Fareena is wrong, goes on to critique the solution rather than the conclusion.

(3) Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
Explanation: This can be a flaw in the reasoning of Fareena as lack of financial planning and decisions to invest might not be the only factors contributing to the cost of living crisis among the elderly. This is not a flaw in Paul's argument.

(4) Presumes that a particular factor cannot affect multiple phenomenon.
Explanation: This is not the 'most' serious flaw in either of Fareena or Paul's reasoning.

(5) Fails to interpret the context-specific meaning of an ambiguous term.
Explanation: This is irrelevant to the reasoning of both Fareena and Paul, there are no misinterpretations with regards to ambiguous terms.
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 00:57
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Fareena's Reasoning
Fareena argues:

Most people are ignorant about financial planning.
As a result, many end up destitute in their old age.
The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund.
This step would solve the issue of lack of financial planning and the cost of living crisis among the elderly.
The flaw in Fareena's reasoning:

She assumes that mandating a 20% investment into a state retirement fund will solve the problem entirely, without considering other factors that contribute to financial insecurity in old age.
The most serious flaw in Fareena's reasoning is:

"Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon."
Paul’s Reasoning
Paul argues:

Fareena's conclusion is wrong.
People should be able to spend or save their money as they see fit.
In the case of adults, it is the individual’s responsibility to manage their finances, not the government’s.
The flaw in Paul’s reasoning:

He argues that individuals should manage their finances without addressing whether or not the government mandate could potentially help solve the problem of financial insecurity in old age.
The most serious flaw in Paul’s reasoning is:

"Reasoning is irrelevant to the stated conclusion."
Selections in the Table
Fareena’s reasoning: Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
Paul’s reasoning: Reasoning is irrelevant to the stated conclusion
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 01:38
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Fareena: Soultion to the problem of cost of living crisis among the elderly, is government mandated investment in retirement fund.

The statement that weakens Fareena's: Baselessly presumes that there can be only one solution to the stated problem.


Because she offers one solution without considering other approaches.

Paul: States the conclusion is wrong as people should be able to spend or save their money as they see fit.

This is irrelavant as Paul's argument about individual responsibility is not analysing Fareena's proposal of solving the identified reasons to the problem.

The statement that weakens Paul's: Reasoning is irrelevant to the stated conclusion.

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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 01:50
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Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.

Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

Select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning.

A)  Baselessly presumes that there can be only one solution to the stated problem - Fareena never mentions this. Paul's reasoning doesn't provide any solution 
B) Reasoning is irrelevant to the stated conclusion. Flaw in Paul's Reasoning -  Paul incorrectly assumes that Fareena has claimed that financial planning is Government's responsibility. Whereas, Fareena's claim is that Govt can provide a solution to the crisis.
C) Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon. Flaw in Fareena's Reasoning: Fareena believes that the cost of living crisis can be solved by saving 20% of one's income. There are other factors like lack of economic growth, high inflation etc that can result in a cost of living crisis.
D) Presumes that a particular factor cannot affect multiple phenomenon. Irrelevant
E) Fails to interpret the context-specific meaning of an ambiguous term. Irrelevant
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 02:15
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­Most serious flaw in Fareena's reasoning:
Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.

Fareena assumes that the lack of financial planning is the only factor contributing to the cost of living crisis among the elderly, and that mandating investments in a state retirement fund will completely solve the issue. However, there may be other factors at play, such as inadequate pension plans, healthcare costs, or social isolation, that also contribute to the crisis.

Most serious flaw in Paul's reasoning:
Reasoning is irrelevant to the stated conclusion.

Paul's argument focuses on individual freedom in financial management, which doesn't directly address the issue of ensuring financial security for the elderly. His conclusion doesn't provide an alternative solution to the problem Fareena presented, making his reasoning irrelevant to the stated conclusion.


 
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 02:52
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The most serious flaw in Frena's reasoning:-Taxes diminish taxpayer's disposable income and leave consumer's wants unattended. The money they could have used to fulfil their wants goes instead to the government in the form of taxes. Design/methodology/approach – Taxation is analyzed from an economic point of view.
The most serious flaw in paul's reasoning:-Paying taxes is especially beneficial for developing countries because it allows the construction of some public infrastructure such as water, electricity, and roads. It is a flaw in Paul's thinking that taxes should be completely abolished
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 03:00
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Baselessly presumes that there can be only one solution to the stated problem - 
    Neither Fareena nor Paul says that there can be only one solution to the stated problem

Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
   This very well is the flaw in Fareena's reasoning. 

Presumes that a particular factor cannot affect multiple phenomenon.
   Neither Fareena nor Paul talks about multiple phenomenon.

Reasoning is irrelevant to the stated conclusion.
   Neither of their reasoning is not irrelevant to the stated conclusion.

Fails to interpret the context-specific meaning of an ambiguous term.
   This could be the flaw in Paul's reasoning as Paul spins out of Government's mandate with resposibility. Paul statest that in the case of adults, at least, it is the individual’s responsibility    to manage their finances, not the government’s.

Therefore, the answer choices are C and E. ­
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 03:00
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Bunuel
Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.

Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.

 
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1. Fareena is talking about solutions for the problem. But never did she make it seem that it is the only solution for the given problem.
2. Fareena gave a relevant reasoning. Paul did not state a reasoning.
3. Fareena assimes that prople's ignorance is the only reason for their plight at an old age. It could be that even with savings, other reasons might lead to destitution. This is a flaw. -- Fareena
4. We are not concerned with multiple phenomenon.
5. Paul seems to be reacting strongly to "government mandate to save in a state retirement fund". In this case Fareena is suggesting that people should be compelled to save and one way to do that is through state retirement funds. While countering, Paul thinks that the funds will be in Government's hands and this takes choice away from people. Flaw --- Paul
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 03:03
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Bunuel
Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.

Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.

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­For Fareena,

I will go with Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon. 

In my opinion there can be multiple reason of having this situtaion rather only financial planning, may be the person is on debt, health issue and many more. So Fareena thinking is falw here.

For Paul:
Baselessly presumes that there can be only one solution to the stated problem

Paul thinks that it is only individual responsibilty makes it totally flawed, Governement can also intervene in it.
So Paul Baselessly presumes only one solution which is wrong.

So, OA = 

Fareena = Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon

Paul = Baselessly presumes that there can be only one solution to the stated problem

 
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 03:28
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Fareena's Flaw:

Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.

Fareena assumes that lack of financial planning is the sole cause of destitution among the elderly, ignoring other potential factors like health issues, economic downturns, etc.


Paul's Flaw:

Reasoning is irrelevant to the stated conclusion.

Paul's argument about personal responsibility, while valid in principle, does not directly address Fareena's proposal about mandating investments into a state retirement fund. It focuses on personal freedoms rather than the effectiveness or necessity of Fareena's proposed solution.
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 03:53
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Cause- Effect
Taking care of Lack of Financial Planning- Solve cost of living crisis among elderly.

Fareena reasoning is flawed because she overlooks that other factors may also be responsible for the cost of living crisis among elderly.

"Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon."

Paul's reasoning is about different conclusion. He did not answer the conclusion that whether Cost of living crisis among elderly will prevail or not. "Reasoning is irrelvant to the stated conclusion."

Imo 1-3 2-2­
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 04:12
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For Fareena's conclusion to weaken Statement 1 is the answer as she baselessly presumes that imposing a 20% limit by the government to its citizens will solve the cost of living crisis. There are a multitude of factors for solution of the problem
For Paul's conclusion to weaken Statement 3 is the answer as Paul presumes factor contributing to a phenomenon may not be the only factor behind the phenomenon.
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 04:20
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­Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.

Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.



Solution:

For the flaw in Fareena's reasoning:
She assumes that mandating a 20% investment into a state retirement fund will solve the cost of living crisis among the elderly, without considering other factors that may contribute to financial insecurity in old age, such as health care costs, education, inflation, or unexpected life events.
Hence, Option 3 i.e. "Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon" is the right answer.

For the flaw in Paul's reasoning:
Paul argues that people should have the freedom to manage their finances, but this does not directly address the issue of ensuring financial security for the elderly or the potential benefits of mandated savings in preventing destitution in old age. His argument focuses on individual freedom rather than the effectiveness of Fareena’s proposed solution in addressing the specific problem.
Hence, Option 2 i.e. "Reasoning is irrelevant to the stated conclusion" is the right answer.­
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 04:33
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Fareena : Financial planning ignorance >> Destitue in old age, unable to affford.
Hence govt mandate to invest in retirment fund> takes case of financial planning and cost of living

Paul : Wrong conclusion , autonomy of spending in individuals> adults individual responsibility of fin planning

most serious flaw in Fareena’s reasoning

Considers only retirment fund as soln to fin planning :
Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.


the most serious flaw in Paul’s reasoning :

Adults didnt do fin planning that is why facing problems in edlerly age , paul doesnt provide solution .

Reasoning is irrelevant to the stated conclusion.
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GMAT Club Olympics 2024 (Day 6): Fareena: Most people are, sadly 16 Jul 2024, 04:39
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Bunuel
Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.

Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.

In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.

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­Fareena’s Flaw: Baselessly presumes that there can be only one solution to the stated problem.


  • Fareena suggests that mandating a 20% investment into a state retirement fund is the sole solution to the lack of financial planning among the elderly. This presumes that there are no other effective approaches, such as improving financial literacy or incentivizing voluntary savings.
Paul’s Flaw: Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.


  • Paul emphasizes individual responsibility in financial matters and opposes government mandates. However, he fails to acknowledge other possible factors like societal and structural factors beyond individual responsibility, such as access to education, economic conditions, and healthcare costs, also influence financial outcomes.
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