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SEPTEMBER 16, 2021
NY Times: U.S. Poverty Fell Last Year as Government Aid Made Up for Lost Jobs
When government benefits are taken into account, a smaller share of the population was living in poverty in 2020 even as the pandemic eliminated millions of jobs.
BY Jeanna Smialek & Ben Casselman
NY Times: U.S. Poverty Fell Last Year as Government Aid Made Up for Lost Jobs
When government benefits are taken into account, a smaller share of the population was living in poverty in 2020 even as the pandemic eliminated millions of jobs.
BY Jeanna Smialek & Ben Casselman
REBUTTAL BY
Wonderful news today from the Marxist madmen atop Manhattan's Mount Olympus! As a side-effect of the Stupid-19-related debt-money-printing and distribution, the poverty rate dropped in 2020. You know, we may have to rethink our previously held belief that debt, deficits and the printing press are the tools of economic destruction. It turns out, all that was needed to mitigate poverty was to tell people to stay home and collect "relief." Who knew?
From the article:
"The share of people living in poverty in the United States fell to a record low last year as an enormous government relief effort helped offset the worst economic contraction since the Great Depression. In the latest and most conclusive evidence that poverty fell because of the aid, the Census Bureau reported on Tuesday that 9.1 percent of Americans were living below the poverty line last year, down from 11.8 percent in 2019."
Now that we have "conclusive evidence" that not just any old communism, but workless communism, can be so productive; just imagine what abundance and prosperity society can achieve by increasing the "government relief" -- both in amount and in term. Heck, at this rate, we'll all be rich by 2023!
From the article:
"The share of people living in poverty in the United States fell to a record low last year as an enormous government relief effort helped offset the worst economic contraction since the Great Depression. In the latest and most conclusive evidence that poverty fell because of the aid, the Census Bureau reported on Tuesday that 9.1 percent of Americans were living below the poverty line last year, down from 11.8 percent in 2019."
Now that we have "conclusive evidence" that not just any old communism, but workless communism, can be so productive; just imagine what abundance and prosperity society can achieve by increasing the "government relief" -- both in amount and in term. Heck, at this rate, we'll all be rich by 2023!
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1. Millennial morons Jeanna Smialek and Ben Casselman have discovered the secret to national wealth. // 3. Not even Crackpot Karl Marx would have advocated for "the workers" to be paid for sitting at home for 18 months!
The illusion of "poverty reduction" is akin to a temporary drug high. To use a financial analogy, it would be like a struggling individual getting approved for an additional $5,000 credit line. That might help him to catch up on some overdue bills and to refill his refrigerator; but in due time, he'll be "in the hole" again -- and deeper.
This glorious "poverty reduction" bump is already fizzling out because -- as surely as thunder follows lightning -- the "boom-time" currency debasement is rapidly eroding the purchasing power of the added "government relief." Been food shopping lately?
Not only are the shiftless now being forced to return to work (for less money than what they are collecting now) -- but with the rising prices of even the most basic of necessities now visible to all, the poverty of the "working poor" will become all the more acute and stressful. Come on now, Ben & Jeanna -- this is simple stuff you should have learned, or at least figured out on your own, no later than age 15!
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Modern "Anti-Poverty" Economics in 3 easy steps.
If history -- and our own familiarity with Marxists and Libtards serve as accurate indicators -- you can bet your bottom shekel that the inevitable increase in poverty that is coming will only lead to calls for even more "government relief" and still higher taxes "on the rich." This calls to mind an awesomely pithy little parable I picked up during my days as a "Bircher."
About the time he had founded the 95%-truther John Birch Society in 1958, the brilliant Robert Welch penned an exceedingly simple economic parable / allegory which -- had students like Jeannie & Bennie been taught in college -- would have prevented so much of the economic damage that has since accumulated over the decades that followed. From "The Blue Book" of the John Birch Society:
"A government trying to step in and improve the workings of a free market is exactly like a man who takes a lighted lantern outdoors on a bright June day to show you the sun. But a government's answer to any criticism as to the inadequacy of the lantern is always to bring more lanterns and then more lanterns -- until eventually the smoke and glare of the lanterns so severely interfere with and shut off the light of the sun that everybody has to work mainly by lantern light."
Tell it, Mr. Welch. Tell it!
Sadly, we may also expect that a significant percentage of the masked-up, vaccine-queuing normies will want more lanterns.
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1. Robert Welch was a brilliant man and anti-Globalist patriot -- but his JBS would not tolerate any (cough-coughing) about the "usual suspects" or any defense of Hitler. // 2. Frederic Bastiat's pithy quotes on government and economics also make for a good crash course. // 3. All this lantern smoke is making it hard to see. I need another lantern so I can see better.
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Boobus Americanus 1: I read in the New York Times today that poverty fell in 2020 as a result of all the government relief.
Boobus Americanus 2: You see. There is a role for government to play in eradicating poverty.
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St. Sugar: Boobuss, you are giving the arssonisst credit for handing out fire extinguisherss!
Editor: That's another good analogy -- and the fire extinguishers would actually contain a flammable chemical which activates later on.
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