The Poverty Industry

[boedicca]

The U.S. government spends about $21K per "poor person" per year on "means-tested" (anti-poverty programs). For a family of four, that is $84K per year; for a family of 3, $62K. And yet we continuously here that the poor (48M strong!) are falling further behind (and even STARVING!).

So, clearly, that $84K is not ending up in the coffers of The Poor (or if it is, they aren't Poor Anymore). If it isn't...then Where's All The Money At?

Answer: The poverty industry that will do everything it can to ensure poverty continues so they can gobble from the Taxpayer Trough.

News that the poverty rate has risen to 15.1
percent of Americans, the highest level in nearly
a decade, has set off a predictable round of calls
for increased government spending on social
welfare programs. Yet this year the federal government
will spend more than $668 billion on
at least 126 different programs to fight poverty.
And that does not even begin to count welfare
spending by state and local governments, which
adds $284 billion to that figure. In total, the
United States spends nearly $1 trillion every
year to fight poverty. That amounts to $20,610
for every poor person in America, or $61,830 per
poor family of three.

http://www.cato.org/sites/cato.org/files/pubs/pdf/PA694.pdf

 

[g5000]

You whine on the one hand that Obama is doing such a shitty job creating jobs, and point out the falling labor force participation rate.

Then you whine we shouldn't feed all those people?

Bah humbug, amiright?

 

[Mr. H.]

It's too much of a challenge to ask Obama to actually embrace a taxing and policy environment that would get businesses hiring and put people to work. It's much easier to print $85 billion each month. Obama is a loser leading a losing nation.

 

[g5000]

It's too much of a challenge to ask Obama to actually embrace a taxing and policy environment that would get businesses hiring and put people to work. It's much easier to print $85 billion each month. Obama is a loser leading a losing nation.

The $85 billion being printed isn't for the poor. Its for the wealthy. Funny how the people whining about money for the poor aren't having a serious coniption over the greater amount of money being handed to the rich on a platinum platter. Over a trillion dollars a year! We don't see a how much that works out to per rich person.

And it comes at the expense of every person who invests, and every person living off their savings. A massive transfer of wealth from the common man up the food chain.

 

[martybegan]

It's too much of a challenge to ask Obama to actually embrace a taxing and policy environment that would get businesses hiring and put people to work. It's much easier to print $85 billion each month. Obama is a loser leading a losing nation.

The $85 billion being printed isn't for the poor. Its for the wealthy. Funny how the people whining about money for the poor aren't having a serious coniption over the greater amount of money being handed to the rich on a platinum platter. We don't see a how much that works out to per rich person.

Inflation caused by printing money hurts savers and investors far more than salary owners. Salaries have to increase to cover rampant inflation, however savings and investment value remain stagnant. Unless the rich transfer all thier wealth to land, gold or other commodities that maintain value, any rampant inflation that hits will hurt them just as much as anyone else. Nowadays most people's wealth is in paper.

 

[boedicca]

You whine on the one hand that Obama is doing such a shitty job creating jobs, and point out the falling labor force participation rate.

Then you whine we shouldn't feed all those people?

Bah humbug, amiright?

A family of four can't eat well on $84K per year?

SRSLY?

 

[DGS49]

The simple answer is this: Under the United States Constitution, the Congress has no power to distribute money or benefits to any individual, for any purpose.

Starting with Social Security, all of these laws (all of this spending) are simply and totally outside the enumerated powers of Congress, and not to put too fine a point on it, but "...reserved to the states, respectively, or to the people." (See the Tenth Amendment).

So all we need to do is stop all programs that distribute money to The Poor, either directly or indirectly.

Ironically, it would take a cataclysmic revolution to FORCE our Federal Government to govern in accordance with our Constitution.

Nice, eh?

 

[g5000]

It's too much of a challenge to ask Obama to actually embrace a taxing and policy environment that would get businesses hiring and put people to work. It's much easier to print $85 billion each month. Obama is a loser leading a losing nation.

The $85 billion being printed isn't for the poor. Its for the wealthy. Funny how the people whining about money for the poor aren't having a serious coniption over the greater amount of money being handed to the rich on a platinum platter. We don't see a how much that works out to per rich person.

Inflation caused by printing money hurts savers and investors far more than salary owners. Salaries have to increase to cover rampant inflation, however savings and investment value remain stagnant. Unless the rich transfer all thier wealth to land, gold or other commodities that maintain value, any rampant inflation that hits will hurt them just as much as anyone else. Nowadays most people's wealth is in paper.

ZIRP is slaughtering savers and investors, all to keep the bank executives in the lifestyles to which they have become accustomed, even though they are the ones who caused all those people on food stamps to be out of work.

I'm so tired of hearing Ebeneezer Scrooge sickos whining about the poor on food stamps. They are seriously warped in the head.

 

[martybegan]

The $85 billion being printed isn't for the poor. Its for the wealthy. Funny how the people whining about money for the poor aren't having a serious coniption over the greater amount of money being handed to the rich on a platinum platter. We don't see a how much that works out to per rich person.

Inflation caused by printing money hurts savers and investors far more than salary owners. Salaries have to increase to cover rampant inflation, however savings and investment value remain stagnant. Unless the rich transfer all thier wealth to land, gold or other commodities that maintain value, any rampant inflation that hits will hurt them just as much as anyone else. Nowadays most people's wealth is in paper.

ZIRP is slaughtering savers and investors, all to keep the bank executives in the lifestyles to which they have become accustomed, even though they are the ones who caused all those people on food stamps to be out of work.

I'm so tired of hearing Ebeneezer Scrooge sickos whining about the poor on food stamps. They are seriously warped in the head.

"You didnt answer the question"

"Correct, Interesting, that was quicker than the others"

 

[g5000]

You whine on the one hand that Obama is doing such a shitty job creating jobs, and point out the falling labor force participation rate.

Then you whine we shouldn't feed all those people?

Bah humbug, amiright?

A family of four can't eat well on $84K per year?

SRSLY?

You aren't stupid enough to believe they are actually receiving $84K a year, are you? Please tell me you aren't actually that dumb.

 

[martybegan]

You whine on the one hand that Obama is doing such a shitty job creating jobs, and point out the falling labor force participation rate.

Then you whine we shouldn't feed all those people?

Bah humbug, amiright?

A family of four can't eat well on $84K per year?

SRSLY?

You aren't stupid enough to believe they are actually receiving $84K a year, are you? Please tell me you aren't actually that dumb.

Most of it goes to bloating buracracy, both federal and state level.

We know that, thats why we detest the system.

 

[boedicca]

The $85 billion being printed isn't for the poor. Its for the wealthy. Funny how the people whining about money for the poor aren't having a serious coniption over the greater amount of money being handed to the rich on a platinum platter. We don't see a how much that works out to per rich person.

Inflation caused by printing money hurts savers and investors far more than salary owners. Salaries have to increase to cover rampant inflation, however savings and investment value remain stagnant. Unless the rich transfer all thier wealth to land, gold or other commodities that maintain value, any rampant inflation that hits will hurt them just as much as anyone else. Nowadays most people's wealth is in paper.

ZIRP is slaughtering savers and investors, all to keep the bank executives in the lifestyles to which they have become accustomed, even though they are the ones who caused all those people on food stamps to be out of work.

I'm so tired of hearing Ebeneezer Scrooge sickos whining about the poor on food stamps. They are seriously warped in the head.

Actually, the FEDERAL GOVERNMENT itself is the biggest beneficiary of QE^Infinity due to absurdly low interest rates:

The U.S. government has saved more than $1 trillion in debt since 2007 because of the actions taken by the Federal Reserve to stimulate the economy, a new report from the McKinsey Global Institute finds.

By keeping short-term rates near zero and engaging in large-scale asset purchases known as quantitative easing, the Fed also boosted U.S. banks' net interest income by $150 billion, the analysis found.

The government profited by being able to issue Treasury debt that pays lower interest rates. The effective rate on outstanding U.S. debt fell from 4.8 percent in 2007 to 2.4 percent in 2012, according to the study, saving the Treasury $900 billion in interest payments over that time. The Fed also remitted an extra $145 billion in profits to the Treasury during that period.

Meanwhile, by allowing big banks to borrow at near zero interest rates and lend out at higher rates, the Fed's zero-rate policies have helped bank's bottom lines.

In addition to creating winners, quantitative easing and zero rates have also created losers. American households missed out on $360 billion in net interest income. Younger Americans, who are net debtors, benefited from the policies. But those above age 55, who are savers, lost out. Americans 75 and older, according to the report, "lost an average of $2,700 a year in income."

Quantitative Easing Saved U.S. $1 Trillion in Debt - HispanicBusiness.com

 

[bendog]

Interesting. The cato institute considers education funding, such as Pell Grants, adoption assistance and Bureau of Indian Affairs to be spending on poverty. I think this tells us something about the cato institute.

 

[boedicca]

A family of four can't eat well on $84K per year?

SRSLY?

You aren't stupid enough to believe they are actually receiving $84K a year, are you? Please tell me you aren't actually that dumb.

Most of it goes to bloating buracracy, both federal and state level.

We know that, thats why we detest the system.

That's the point of the thread. The moron doesn't grok that it's a big shakedown scheme.

 

[bendog]

You aren't stupid enough to believe they are actually receiving $84K a year, are you? Please tell me you aren't actually that dumb.

Most of it goes to bloating buracracy, both federal and state level.

We know that, thats why we detest the system.

That's the point of the thread. The moron doesn't grok that it's a big shakedown scheme.

I don't question the thread's intent, but if that cato report is the best you got, then you ain't got anything.

 

[boedicca]

Then you don't understand federal spending, bub.

 

[bendog]

If you think Pell grants are handouts to the poor, you need a new head.

 

[boedicca]

Are you really that dense?

Program Description

The Federal Pell Grant Program provides need-based grants to low-income undergraduate and certain postbaccalaureate students to promote access to postsecondary education.

Federal Pell Grant Program


And has already been mentioned - the issue with this spending is that it is looted by shakedown artists and poverty pimps.

 

[Indeependent]

Of course we forget mention that the banks that receive this virtually interest free money on a monthly basis have severely restricted themselves from the very purpose for which this money has been printed...to LEND money.
It's easy to hold back money when one is getting one's expected bonus to do so.

 

[g5000]

A family of four can't eat well on $84K per year?

SRSLY?

You aren't stupid enough to believe they are actually receiving $84K a year, are you? Please tell me you aren't actually that dumb.

Most of it goes to bloating buracracy, both federal and state level.

We know that, thats why we detest the system.

The dumbshit actually thought a family of four was receiving $84,000.

The Earned Income Tax Credit was counted as a "welfare program" by the CATO report.

As were adoption assistance, several services to seniors, college grants, demolition of public housing, and a lot of rural assistance programs. In short, a great many things that have nothing to do with food stamps or what we traditionally think of as "welfare".