U.S. Poverty On Track To Rise To Highest Since 1960s

Ricter, clearly the only solution to this complex problem is tax cuts. And if that doesn't work, then great conservative minds will come together and propose even more tax cuts. And if that doesn't work...

 

Wage stagnation comes down to globalization and reiterative bubbles orchestrated by the Federal Reserve to mask growing structural unemployment. On the flip side, the 1% own most Fortune 500, who benefited enormously from overseas labor and appreciating real estate/stock market values. Inflationary bubbles always transfer wealth from the lower and middle class to the rich, via asset inflation (stock/commodity/real estate). This wealth transfer was known, planned and coordinated. A hollowing-out of America.

 

Because tax hikes for the rich will save the earth and its people, finally allowing the oceans to recede.

Intellectual problem solving.

 

It's a well known fact that the tsunami was Bush inspired. Bush was making waves before anyone else thought it was cool.

 

Ron Paul to Newsmax: Fed Policy Destroying Middle Class
By Todd Beamon and John Bachman

The American people are “waking up” to the idea that the Federal Reserve “is very biased against the middle class,” Republican presidential candidate Ron Paul tells Newsmax.TV.

“The American people are waking up,” the Texas congressman declared in an exclusive interview with Newsmax. “They know that the Fed is very important – and a lot more people are looking at it.

“A larger crisis is going to come, and I think the American people will be very attuned to looking at the Federal Reserve and why they always want to do things in secret.”

It goes without saying that the central bank has made the nation’s middle class “much poorer,” he said. “Real wealth isn’t going up. Good jobs are going away.

"It’s the policy of the fed, the destruction of money, the intervention. It’s a system that is very biased against the middle“ class. It’s been well known that if you destroy a currency, there is a natural transfer of wealth from the middle class to the very wealthy.”

Paul’s bill to audit the Federal Reserve comes up for a vote next week in the U.S. House of Representatives. It has 250 co-sponsors, including a number of Democrats, which reflects greater interest in the Fed since the financial crisis of 2007 and 2008.

“A lot of transactions occurred in the bailout – and this is why we’re getting more attention now,” Paul said of his legislation. “Because so much activity occurred when the financial crisis hit, and the Fed was very, very much involved and they were dealing with more money than even the Congress deals with.

“They’re very much involved with what’s going on in Europe right now.”

Noting that Fed Chairman Ben Bernanke has pledged assistance to Europe if necessary, Paul added: “Being ready to help means using U.S. dollars, which means it’s a penalty to the American taxpayer and to the value of our currency, to stand ready to bail out the system, if necessary.”

This is even more reason for greater transparency at the Fed, Paul said.

“These transactions are kept very, very secret. They don’t want us to know who does what and who gets the benefit – and they always use the argument that they need independent, but what they’re really arguing is secrecy in all their dealings.”

The American people, Paul said, are growing more astute about the Fed, too.

“We’re making tremendous progress, because a lot of people have been involved in spreading this message, especially since the crisis hit people want to understand it – and there’s a large group of people, especially the younger people, who are inheriting the mess, and they are very, very interested in this subject.

“So outside of Washington, they’re very open-minded, they understand it, they want something done.

“The American people want to audit the Fed..." ...

 

I guess when people look back on the Obama presidency, this is something that will be most vivid in their memories.

 

Studies on obesity and the poor would suggest they do indeed eat more cake than I.

So yes let them eat cake.

I don't get why my indifference to the poverty rate bothers you so much? I'm not the cause of it.

 

A Possible Future

 

Paul is correct.

The govt and the Fed are debasing money faster than the middle class can earn it.

The poor have govt give aways and our policies are making more poor.

Combined these policies destroy the nation.
Which why the wealthy go transnational.

to save the middle class we have stop debasing the currency and ease up on their taxes.

 

Safety net programs: About 13 percent of the federal budget in 2011, or $466 billion, went to support programs that provide aid (other than health insurance or Social Security benefits) to individuals and families facing hardship. Spending on safety programs declined in both nominal and real terms between 2010 and 2011 as the economy continued to improve and initiatives funded by the 2009 Recovery Act began to expire.

These programs include: the refundable portion of the earned-income and child tax credits, which assist low- and moderate-income working families through the tax code; programs that provide cash payments to eligible individuals or households, including Supplemental Security Income for the elderly or disabled poor and unemployment insurance; various forms of in-kind assistance for low-income families and individuals, including food stamps, school meals, low-income housing assistance, child-care assistance, and assistance in meeting home energy bills; and various other programs such as those that aid abused and neglected children.

Such programs keep millions of people out of poverty each year. A Center analysis shows that government safety net programs kept some 25 million people out of poverty in 2010. Without any government income assistance, either from safety net programs or other income supports like Social Security, the poverty rate would have been nearly double in 2010 (28.6 rather than 15.5 percent).

http://www.cbpp.org/cms/index.cfm?fa=view&id=1258


Ahh, screw em. We should take this money and give it to the wealthiest one percent because poor people are dirty, fat, ugly, many of them are black, they're all just lazy, and we don't want to think about them. Plus I'm pretty sure Jesus said "I have mine so go scratch".