Paying folks to get out of Poverty
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Are you kidding me... That would be like adding extra gas to the car to say it got better fuel economy. His plan will make people MORE LAZY by sending a message the Govt. will take care of them.
Biden’s economic 'rescue plan' could cut child poverty in half, analysis finds
·Reporter
Tue, January 19, 2021, 2:53 PM
President-elect Joe Biden’s $1.9 trillion ‘rescue plan’ could lift millions out of poverty — especially children, Blacks, and Hispanics — according to a new analysis, and could result in a poverty rate that’s lower than before the pandemic began.
Over 11.6 million people would be lifted out of poverty in 2021 if Biden’s plan is implemented, according to an analysis by Columbia University’s Center on Poverty and Social Policy. Five million of those would be under 18, cutting the child poverty rate in half. The 2021 poverty level would sink to around 9%, much lower than its pre-pandemic level of 11.7% in 2019.
Read more: Here's what's in Joe Biden's $1.9 trillion 'rescue plan' that could help your wallet
“It would represent a historic effort to cut poverty, and particularly child poverty,” Megan Curran, a postdoctoral research scientist, and co-author of the report told Yahoo Money. “We can't get out of this crisis unless we make sure that families who have been struggling the most are able to meet their needs. This package would go a long way in making sure that's possible.”
U.S. President-elect Joe Biden speaks during an announcement January 16, 2021 at the Queen theater in Wilmington, Delaware. (Photo by Alex Wong/Getty Images)
The decrease in poverty would be the most significant among Blacks and Hispanics.
In December, the Black poverty rate was 20.3% and the Hispanic rate was 18.9%, while the poverty rate for white Americans was 8.8%. Under Biden’s plan, the Black poverty rate would drop to 13.3%, while the Hispanic rate would fall to 11.5%. The poverty rate among white Americans would sink to 7.1% under Biden's proposal.
“Black Americans and Latino Americans have been among the hardest hit in terms of poverty amidst the crisis,” Curran said. “The extension of expanded unemployment benefits and increasing the weekly supplement to $400 would do quite a lot.”
People line up to receive free holiday boxes of food from the Food Bank For New York City ahead of the Thanksgiving holiday, as the global outbreak of the coronavirus disease (COVID-19) continues, in the Harlem neighborhood of New York, U.S., November 16, 2020. REUTERS/Brendan McDermid
Under Biden’s proposal, the extra weekly amount in unemployment benefits would be increased to $400 a week, up from the current $300 a week. Biden’s plan would also extend those benefits and other unemployment programs through September — currently, the additional benefit lapses on March 14.
Read more: Here's what to do if you haven't gotten your stimulus check
Two other key proposals that would help families with children along with Black and Hispanics are the $1,400 stimulus checks and the tax credit expansions included in the proposal. Qualifying Americans would get an additional $1,400 check per adult as well as an additional $1,400 for each dependent (adult dependents would be eligible too), meaning that families with children would get bigger checks this time versus previous rounds.
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Biden’s proposal would improve the child care tax credit, making it refundable and worth up to $4,000 for one child and $8,000 for multiple children. It would also increase the child tax credit to $3,000 per child, up from $2,000, and make it fully refundable. The eligibility requirements for the Earned Income Tax Credit would also be expanded under Biden’s proposal.
Poverty in the U.S. unexpectedly declined at the beginning of the coronavirus pandemic, thanks largely to generous government support from the CARES Act. But that trend reversed as the relief provisions expired. The $900 billion stimulus package enacted last month kept poverty at 12.6% in December. It would have risen to $13.6% if no relief was passed.
Comments
Proving once again: A whole lot of people are STUPID.
It really is Sad.. ain't it...
Let them all have what they want,because in America you can have a dream to prosperity! The faster they spend and tax up there in Washington D.C. the faster we can collapse into The NWO and be enslaved to the illuminating oligarchical system.
Money creation with no system of checks and balances is sure to destroy the republic soon enough. It's time for the great reset with a false jubilee from Our Government. The United Nations has the answer to all our problems by 2030.
serf
We've spent over $50 trillion in the War on Poverty with zero results.
Apparently giving away money is not the answer.
The Drug War is a hot 2nd
Come now, my good fellow, isn't it quite obvious that we just haven't tried hard enough! Surely it will work this time!
It will work twice as good as it did last time!
Your numbers are spot on, but LBJs war on poverty was never intended to end poverty, it was to buy votes and create a permanent dependency class in order to keep DEMOCRATs in power. Result have proved the strategy is very effective.