1
0

Things Are About to Get Much Worse for Poor Americans


 invite response                
2016 Nov 11, 7:38pm   598 views  3 comments

by marcus   ➕follow (7)   💰tip   ignore  

President Obama’s anti-inequality crusade has had three main pillars. First, the Affordable Care Act, or Obamacare, brought the percentage of uninsured down from 16 percent in 2010 to 9 percent, the lowest in U.S. history. Second, tax benefits passed in the 2009 stimulus, and extended throughout the last seven years, raised the overall income of millions of poor Americans. Third, the administration went beyond the tax code to increase anti-poverty spending, like food stamps and long-term unemployment benefits, and to support the national movement for a higher minimum wage. Together, these measures helped to reduce after-tax inequality more than any administration on record, according to the non-partisan Congressional Budget Office.

How will Republicans roll back these measures? Trump’s boldest proposals and most radical promises—to build a border wall and establish a police force to deport 10 million undocumented workers, while instigating a trade war, cutting taxes, trying to balance the budget, and hinting that the U.S. won’t pay back its debt—are together a recipe for financial panic and a possible recession. But even if the U.S. gets a more moderate version of Trump that dovetails with the wishes of his Republican Congress, there is another clear conclusion to draw. Quite simply, his administration would make it much harder to be poor in America.

Comments 1 - 3 of 3        Search these comments

1   Gary Anderson   2016 Nov 11, 7:45pm  

I believe a recession is baked in, due to the percentage of profits that go to wages, which are very low. So, question is, will Trump try to inflate housing prices prior to this recession in order to try to avoid it? It never works. He could make the recession that is baked in, worse.

3   HEY YOU   2016 Nov 12, 1:28pm  

Gary Anderson says

will Trump try to inflate housing prices prior to this recession in order to try to avoid it?

Trump won't have to pump house prices.
Buyers always overpay.
A fair market sales price is 10% of listing price.
Unless buyers want Commissioned sales people
& sellers to make big bucks which buyers will pay interest
on for years. Financial wisdom!

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions   gaiste