If this phrase is true, do you need any financial help  ?
Joking aside, I can agree that stupidity is poverty (metaphorical one) but poverty is definitely not stupidity. Some people are born poor, some work very hard but have no luck, some live in places where there is no money to be made. Of course some people are poor because of stupidity, but also many people are rich despite it. It's just very condescending and frankly stupid thing to say.