3 ms·
Two things: 1) Poverty is more than a financial condition. Income isn't the root problem per se. It's as much a symptom. The book "Evicted" is solid starting p
by chiefalchemist 5y ago
Two things:
1) Poverty is more than a financial condition. Income isn't the root problem per se. It's as much a symptom. The book "Evicted" is solid starting point for seeing how the cure for cronic and perpetual poverty is not as simple as handing out money.
2) That aside, the reduction was at what cost? That is, printing money creates inflation. Inflation is effectively a tax. Who is going to bear the brunt of that tax?
3) The income rate is artificially "suppressed". My understanding is that if you add 25% to 50% the number of ppl below the poverty line increases significantly. That is there are many constantly flirting with falling below that line. Unfortunately, transparency would not be great PR for the powers that be.