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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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Study: Public Assistance Programs Lessen Poverty
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Live within your income, even if you have to borrow to do so.
-- Josh Billings
(Score: 2) by suburbanitemediocrity on Wednesday May 30 2018, @12:51AM (2 children)
I know you're not saying anything bad. I've just been told the exact same thing about the evils of property ownership at least half a dozen times, and I always ask what I should be doing with my money and no one tells me. I mean I'm sitting here in the bottom quintile of income in society, so have this warped idea that if I can do it, then just about anybody should.
I honestly don't know what else i should be spending money on. Not into cars, clothes, jewelry, frivolous displays of wealth, own 2 pair of pants, 3 tshirts. I let homeless people live in my houses for free (3--5 so far), been around the world 3 times, travel cross country dozen times, now it's boring, my hobbies that I spend a lot of time no cost me $50/month. But you're right, collecting houses does greatly increase my net overall worth, but it's the only thing I know to escape poverty.
(Score: 2) by c0lo on Wednesday May 30 2018, @01:42AM (1 child)
As long as you are aware that S/N (along many others) isn't probably the best place to look for financial advice, here are some suggestions on what other things you can do with your money:
- if"can pay it off over a longer period of time" (maths may say something else, but there are psychological consideration at play here too. Like the effect of everyday stress, etc)
- invest in an index fund [investopedia.com]
- consider peer-to-peer lending [goodfinancialcents.com]
- consider doing the investments under a Roth IRA [wikipedia.org]
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by c0lo on Wednesday May 30 2018, @03:51AM
First suggestion was eaten by typos in the markup. Should read "If you have debts, pay them first. Prioritize debts you can finish paying first over those you can pay off over a longer ... etc"
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford