Tag: Poor Americans

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New Evidence that Poor Americans Pay the Highest Taxes and Get Little of the Safety Net

Written by on March 22, 2017 in Economy with 0 Comments
New Evidence that Poor Americans Pay the Highest Taxes and Get Little of the Safety Net

The bottom line is that poor Americans pay about 25 percent in total taxes, while the 1% pays anywhere from 18 to 23 percent. Surprisingly, the middle 40% receives more government assistance than the bottom 50%, with a benefit equivalent to 23 percent of national income. More surprisingly, the richest 10% as a group receives almost as much government assistance as the poorest 50%.

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It Happened Again: How 14 People Made More Money Than the Entire Food Stamp Budget for 50,000,000 People

Written by on October 6, 2014 in Economy with 0 Comments
It Happened Again: How 14 People Made More Money Than the Entire Food Stamp Budget for 50,000,000 People

For the second year in a row, America’s richest 14 individuals made more from their annual investments than the $80 billion provided for people in need of food. Nearly half of the food-deprived are children. Perversely, the food stamp program was CUT because of a lack of federal funding.

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Poor Americans Debt Burden Highest in History

Written by on September 16, 2014 in Economy with 0 Comments
Poor Americans Debt Burden Highest in History

The poorest Americans now owe 156% of their pretax income to creditors, according to a new study by the Federal Reserve Bank. The poorest have more debt relative to their net worth in American history, owing $1.37 for every dollar they own.

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Widening Gap Between US Rich and Poor Is Unsustainable, Says Study

Written by on September 8, 2014 in Economy with 1 Comment
Widening Gap Between US Rich and Poor Is Unsustainable, Says Study

The study, titled An Economy Doing Half its Job, said American companies – particularly big ones – were showing some signs of recovering their competitive edge on the world stage since the financial crisis, but that workers would likely keep struggling to demand better pay and benefits.

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