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Study: Public Assistance Programs Lessen Poverty

posted by Fnord666 on Tuesday May 29 2018, @07:39AM   Printer-friendly
from the at-what-cost dept.

An Anonymous Coward writes:

Yahoo Finance reports

Poverty-alleviation programs like food stamps (SNAP), Social Security, and other "welfare" programs are broadly effective at reducing poverty, a new study from University of Chicago researchers found.

The study, performed by researchers Bruce Meyer and Derek Wu, conducted a more comprehensive analysis than most studies, because it used administrative data from the programs' payment records, not just survey data of recipients from the Census Bureau.

[...] For the elderly, Wu said the research found that Social Security benefits "single-handedly slashes poverty by 75%." Social Security's overall effect on all poverty is also enormous, responsible for by far the largest poverty reduction among all these programs, the study said.

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  • (Score: 0) by Anonymous Coward on Tuesday May 29 2018, @09:30PM

    by Anonymous Coward on Tuesday May 29 2018, @09:30PM (#685911)

    If you're too stupid as a business owner to realize that an increase in wages need only result in raising prices to cover the actual increase, you deserve to be beaten by those who can figure that out.

    Your suppliers don't raise their prices to compensate for the wage increase? All we're doing here is inflation, nobody ends up better off unless they are servicing zero or fixed-interest debt.

    Or perhaps you're just desperately clutching at excuses and that's the best you could come up with

    From the Weimar Republic to Venezuela, the combination of high government debt, redistributive policies and printing money has lead to hyperinflation. It wont affect people living hand to mouth [cnn.com] only those holding assets. [wikipedia.org] Does that better explain the problem for you?