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Actually she was partly right. The poor and the middleclass fuel the economy by always buying crap that they don't need instead of saving or investing like their wealthier counterparts.
Most Investment grade products have very high thresholds for a purchase. To buy a single US Treasury Bond the minium bond price is $10,000 and most deals in Treasuries won't even talk to you unless you have 500,000 to a million dollars to deal with them. The same is true for Wall Street investment banks and the good Financial planners. Yes you can buy into derivative products like money market funds or mutual funds but they don't have anything like the earnings power that the top 1% or even the top 7%.
For those of us chumps who only have chump change our best investment vehicle is a piggy bank!
I am so sick and tired of this BS. It doesn't matter if you eat 1000 calories of Hamburger Helper or a 1000 calories of "fresh foods." Calories are just that: CALORIES. The simple fact of the matter is people on welfare, as a whole, are lazy. They don't want to work, move, exercise, or do much of anything except collect as much money and other freebies as the system allows.
NO ONE on welfare should be fat, unless there is some sort of medical condition. But the majority are and for that matter, the majority of American's are.
Do you have any idea how many apples, sticks of celery or heads of lettuce you have to eat to chalk up a 1000 calories? There is a big difference between processed foods that are jam packed with salt, phsophour compunds, potassium ,fat and fatty acids, and Archer-Danials-Midland high fructose corn sugar actaually manufactured from corn starch and what Americans ate in 1913 and today. Most of the obescity problem is centered in the spare tires of Joe Sixpack and fat wife and children. By your observation they don't work enough, don't exercise enough and really need to actually do more than planting their fat asses contributing to society. Get off their fat asses instead of watching TV every evening and from sun up to sun down on weekends while gobbling up bag after bag of chips, cheese puffs and beer or a 32 oz soda!
Yeah but the "job creators" are better than all of us and deserve to be subsidized 100% with 0% tax rates on all wealth and subsidies on their business activities
So wher are you saying the welth is created to pay for all thsoe programs.Its not out of thin air and its easy to find just who pays what in local ;state and federal taxes with a search. Basically people want investment then say that you need to tax profit to death which is what Europe as done and now find there is little profits from investment to tax.Destroying the incentive to invest by taxing it is not a waise decision and ceretainly its easy to see who oays for what in reality.
Most Investment grade products have very high thresholds for a purchase. To buy a single US Treasury Bond the minium bond price is $10,000 and most deals in Treasuries won't even talk to you unless you have 500,000 to a million dollars to deal with them. The same is true for Wall Street investment banks and the good Financial planners. Yes you can buy into derivative products like money market funds or mutual funds but they don't have anything like the earnings power that the top 1% or even the top 7%.
For those of us chumps who only have chump change our best investment vehicle is a piggy bank!
So true, but when the worldwide monetary resets happens, it is going to be very interesting
What do you think the payday or title loan place around the corner is for? DUH!!!
LOL suggesting that (as a group) poor welfare recipents are good at budgeting and savy financial planners.
Welfare is designed to push recipients into short-term financial 'planning'. Saving and investing are punished, so it makes no sense for welfare recipients to do these things.
Welfare recipients actually respond to program incentives and disincentives they way they are intended. Nobody should be surprised that welfare recipients don't save and invest when those activities are punished.
Welfare is designed to push recipients into short-term financial 'planning'. Saving and investing are punished, so it makes no sense for welfare recipients to do these things.
Welfare recipients actually respond to program incentives and disincentives they way they are intended. Nobody should be surprised that welfare recipients don't save and invest when those activities are punished.
That may be its effect but it is certainly not designed to do this.
So true, but when the worldwide monetary resets happens, it is going to be very interesting
A lot of people have a very distorted view of what it is going to be like when the bottom finally falls out. Its not like it was in the 1930s when we used to make a lot of products locally, didn't rely on food grown in Chile , didn't buy virtually all our cloths from Bangaladesh or China (people could sew or knit) , a world where you didn't need electricity to wash cloths or heat a home or in some cases cook. Many of us had that little ol'shack out back with a one or two holer, carried water in buckets. Back then people didn't need a calculator to do sums and peole used to be able to write legibly and spell. Yes, what will we do when there is nothing eat, wear, or watch? When the TVs don't work, the iPad or iphone won't work,the house is cold, the cell phones are silent, we have to eat cold pork and beans from the can (only if we still have an old fashioned can opener and we still have a few cans in the house) and the toilet doesn't flush. Mabe throw a national temper tantrum?
There is a lot of misinformation about welfare so I thought I'd make a thread specifically about the facts so that, in the future, we can have more informed discussions about the topic. First of all how much is spent on welfare, who is on welfare, and in what states is welfare most common?
Map of which states have the lowest welfare rate as a percentage of population (lowest = 1st place) to states with the highest welfare participation rate as a percentage of population (50 = highest).
Finally, we can consider food stamps (SNAP) which technically isn't welfare as it isn't run by the department of health and human services and instead is run by the department of agriculture under the farm subsidy program. Here is a graph with the percentage of population receiving food stamps by state.
Percent of State Population Participating in SNAP Program, FY2011
I do have to laugh at people who think that dooms day is near. Notice how Japan has almost three times the ration of debt to GDP and its still just fine? There will be adjustments due to market conditions just like there always has been but, no, there will not be the dooms day, end of the world, nonsense which some people oddly seem to be hoping for.
Not that any of this has anything to do with welfare so please stay on topic and start a different thread in the dooms day prepper subforum if that topic interests you.
Food stamp recipients can buy all the junk food they want, but they are prohibited from buying vitamins or nutritional items. The big banks like JP Morgan Chase collect billions of dollars a year off the transaction fees supporting the SNAP program.
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