NO SERFDOM, NO PEACE!!!
Posted on 07/30/2019 6:53:53 PM PDT by Tolerance Sucks Rocks
With the next round of Democratic presidential candidate debates upon us, we will surely hear more about government activism to fix racial inequalities.
Inequality is real and needs attention.
According to the Urban Institute, average white household wealth in 2016 was $171,000 compared with average black household wealth of $17,409.
Sen. Cory Booker wants government to make deposits into savings accounts for low-income children to the tune of up to $50,000 each.
Sen. Kamala Harris proposes $100 billion in government subsidies for black homeownership.
These kinds of proposals may win some black votes, but should they? Will they really make blacks and the nation better off?
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Government anti-poverty spending is not exactly a novel idea. We've been doing it since the 1960s, totaling, by some estimates, over $20 trillion since then. Has it achieved anything?
Changes in the poverty rate are barely discernible. And the wealth gap has just gotten bigger.
Per the same Urban Institute data, the wealth gap between white and nonwhite households was $45,188 in 1963, $92,045 in 1983 and $153,591 in 2016.
If a history of spending massive sums of taxpayer funds without results is not enough to discourage this approach, how about asking where the money will come from?
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This fiscal year, the federal government will spend $4.5 trillion, $3.5 of which will be financed by tax revenue, leaving a trillion-dollar deficit to finance through borrowing.
According to the latest "Long Term Budget Outlook" from the Congressional Budget Office, "Large budget deficits over the next 30 years are projected to drive federal debt held by the public to unprecedented levels — from 78 percent of gross domestic product (GDP) in 2019 to 144 percent by 2049."
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NO SERFDOM, NO PEACE!!!
PING!
Man I have hated that ##$$ since forever, living in NYC.
As for the dems and their brilliant ideas...
...Sen. Cory Booker wants government to make deposits into savings accounts...$50,000 each.
Sen. Kamala Harris proposes $100 billion in government subsidies for black homeownership...
They are HANDING the presidency to Trump.
Independents will FAINT when Trump STRESSES these things in the debates.
Growth equals jobs. Jobs equals wealth.
Government can not lift anyone out of poverty. Give a man without a job $50K in a savings account that he has access to and within a year or less that saving account will be empty. The program is pointless.
The Bush program to boost home ownership has already proven to be for the most part a failure. Most of the poor defaulted on their mortgages. So, the Harris proposal is just another way to waste government money repeating failure.
The only proven way to lift people out of poverty is with jobs. Economic growth is the only way to get the poor in to the economy and the only way to break the cycle of poverty.
I recall a study done some years back with respect to healthcare. The study asked the question on what an individual would do given they had a terminal illness. Would that individual spend every last dollar they had to extend their life as long as possible, or would they stop treatment and save the money as a legacy for their children?
White participants overwhelmingly said they would stop treatment and let their children have the money while black participants opted to spend every dollar to live the longest life.
I guess The Last Holiday is real.
And a new car, plus monthly gas and insurance money when they obtain a driver's license.
“” “” Sen. Cory Booker wants government to make deposits into savings accounts for low-income children to the tune of up to $50,000 each.”” “”
That would buy a lot of crack.
By the 40th class reunion, we had doctors, lawyers, physicists, politicians and a cadre of waiters, cashiers, bartenders and surf bums. The latter cadre had their "fun" after school to the detriment of their future. There was an obvious "wealth gap". It had nothing to do with race as the persons described where white. Included in that "white" were our few Hispanics that included the former group with 4.0 GPAs.
There has been a black/white "achievement gap" for as long as I can remember (60 years). Every year the politicians and teachers bemoan the "gap" and throw money at "fixing" it. It never gets fixed. If the capability side of the equation is considered (differing average IQ for black/white populations), the gap is not fixable at the group level of comparison. Tenacity (doing your schoolwork diligently each day) can make a difference. If you happen to be on the higher end of the capability curve, that tenacity can have a huge payoff. If nothing better is ever expected of you, that capability may end up squandered.
Politicians that try to "fix" the gap by stealing money from the successful and handing to the unsuccessful are simply immoral, pandering assholes. They seek to buy the votes of the promised recipients of the stolen money at not cost to themselves. That is always the Democrat strategy. Pander to the less capable. Promise them free stuff at the expense of the more capable.
They are HOPELESS because of the DEMOCRATS! Yet they STILL vote for them because they are the same color.....PATHETIC!
IN THE GAME!
Misleading statements, promoted by leftists.
The "poor" in the United States now generally have electricity, central heating, air conditioning, free food, free housing, free schools, a car, and an obesity problem.
In most of the rest of the world they would be middle class.
The "wealth gap" if you trust the numbers, has shrunk, in constant dollars.
A dollar in 1963 would be 7 dollars today. $45,188 in 2016 dollars would be $316,316 today.
The "wealth gap" between black and nonwhite households has shrunk from $316,316 to $153,591, or, basically, been cut in half.
In any case, it is a pretty meaningless number.
My wife and I are by no means super wealthy but we are not poverty stricken either. This area is 46 percent black according to Wikipedia. Everyday I interact with black people and some are much poorer than I am and some are far wealthier than I am, the same can be said about white people. I notice that those who are better off financially, whether black or white, seem to be generally well spoken, polite, friendly people who are ready to lend a helping hand to others when needed. Do I need to say more?
Work shrinks the wealth gap
“That is always the Democrat strategy. Pander to the less capable. Promise them free stuff at the expense of the more capable.”
Yeah, what was that line I heard once, oh yeah, “From each according to his ability, to each according to his need.” Sounds like a great recipe...for total disaster. Anyone who claims not to see a problem with that idea is either a fraud who wants to receive according to his imagined need without working for it or is a total idiot. No one who supports it is looking for a way to give away all his huge wealth until he can barely exist on what is left.
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