Millionaire still eligible for foodstamps

Discussion in 'Economics' started by peilthetraveler, May 19, 2011.

  1. zdreg

    zdreg

    not quite true when it comes to colleges in the US. it is a mix of asset and income test.

    harvard university has a straight forward formula. below $60,000 family income it is zero tuition. between $120,000 and $180,000 it is ten per cent of the income. it is very fair in my opinion.
     
    #11     May 19, 2011
  2. zdreg

    zdreg

    sure it does. its boneheaded conditions when making loans to countries have kept countries in the abyss much longer than necessary.
     
    #12     May 19, 2011
  3. olias

    olias

    nice
     
    #13     May 19, 2011
  4. jprad

    jprad

    Same goes for Yale, but only if you're a renter and don't have cash or other assets. Otherwise, even if you make less than $60K, you're going to be paying 20% or more. Also, your kid will be assigned on on-campus job that will be paid $1,500 and will be applied to the tuition.

    But, if you own a house and have other assets you're going to be paying well over half the cost and closer to 70% once your income goes above $150.
     
    #14     May 19, 2011
  5. Isn't he really just getting some of his taxes back?

    He won 2 mil in the lottery, probably had to pay 1 mil in taxes.

    So he's really just getting some of his taxes back via food stamps.
     
    #15     May 19, 2011
  6. Sounds like he was getting his taxes back way before he paid them.
     
    #16     May 19, 2011
  7. They're trying?

    Our government tends to make all kinds of plans but fails to deliver.
     
    #17     May 20, 2011
  8. This would be true in California if he has anyone in his household under 18. No amount of assets, liquid or otherwise would disqualify a household with an under-18 member from getting food stamps so long as it is income eligible.

    Without an under-18 member, no adult gets food stamps in California until his/her liquid assets is below $2000, this is so even if the applicant has no income. IRA is classified as liquid asset in California, 401k is not considered liquid. Crazy rules here.

    Here is a comment form an Indiana woman: I live in Indiana as a single mother of 2 kids. I have tried 3 times to get any sort of assistance and have been turned down because they add my measley $43 a week and add it to income and it puts me over by about $80. And we arent allowed to have any more than $2000 in the bank. I dont understand how he can get help with $2 million in the bank. How disgusting!
     
    #18     May 24, 2011
  9. bighog

    bighog Guest

    If all the republicans that have a hard-on for everyone receiving social security and are on medicare would NOT take those checks and get on medicare, think how nice it would be to save 50% of the costs and we would not have to listen to them bitch all the time.

    How many republicans send the checks back? :p
     
    #19     May 24, 2011
  10. No, UE checks are to help people pay high priority bills and buy necessities to survive between jobs. I doubt housewives of rich doctors would starve or lose their house without their UE money. On the other hand do you have any idea how many loans for houses, cars, etc. would have really been defaulted on without UE? UE helps to prevent a lot of extra problems in our economy when people lose jobs but unfortunately in it's current incarnation there is way too much abuse. It does need an overhaul.
     
    #20     May 24, 2011