Really?!

Discussion in 'Economy' started by Iridescence, Dec 6, 2011.

  1. Iridescence
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    Iridescence BANNED

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    Do millionaires collect food stamps? According to some, the GOP had to specify that they could not... :dunno: Apparently things are not what they seem.
     
  2. samjones
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    samjones Member

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    You could own a million dollar home and still qualify for food stamps.
     
  3. Iridescence
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    I obviously don't understand the system. From what I knew at one time, they document the applying family's assets. It may not determine whether or not the family qualifies for assistance, understandably, though.

    However mistaken it may seem, I don't consider someone with a million dollar home necessarily a millionaire. I consider a person/people who has a million or more dollars, after their debt, millionaire/s. :dunno:
     
  4. samjones
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    samjones Member

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    Some States consider assets, some states don't. By your definition, a person with a paid-off million dollar home and no debt would be a millionaire. It could depend on what part of the world you live in. In my neck of the woods, it's very, very easy to imagine a cash-poor single mother with multiple children living in a million dollar home and qualifying for food stamps.
     
  5. Iridescence
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    I'd probably be interested in the GOP's definition of millionaire, then. ;)
     
  6. samjones
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    samjones Member

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    In essence, the GOP is right. Putting aside the pesky detail that they're wrong (can't buy a plane ticket on your food stamp card), many, many government programs do not necessarily consider assets when determining benefit, including EIC.

    The whoever-on-the-left on CNN who said anyone worth more than a million dollars is likely to have more than 22K in income per year is just flat-out wrong. Lots of investments generate zero income, like a house, or a 401(k) or investments that focus on growth rather than income.

    These are our primary tax shelters in this country.

    I'm oversimplifying, but Newt's essential assertion that people should contribute to the public coffers according to their assets rather than their income is the most radically leftist thing I've ever heard a serious candidate for president say.

    If you consider him a serious candidate, that is.
     
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