Showing posts with label capitalism fails. Show all posts
Showing posts with label capitalism fails. Show all posts

Monday, January 27, 2014

Thank you Laffer Curve

WASHINGTON (AP) -- In a first, working-age people now make up the majority in U.S. households that rely on food stamps — a switch from a few years ago, when children and the elderly were the main recipients.

Some of the change is due to demographics, such as the trend toward having fewer children. But a slow economic recovery with high unemployment, stagnant wages and an increasing gulf between low-wage and high-skill jobs also plays a big role. It suggests that government spending on the $80 billion-a-year food stamp program — twice what it cost five years ago — may not subside significantly anytime soon.

Full story

Two things:

Food stamps supported children and the elderly. Do you get it? It wasn't a life style for people. And the Republican game of blaming the individual was always bullshit.

Hard work does have its rewards. But, those accrue in character growth. Which isn't the same as profit or wages.

I've always said that global markets will lead the US into global wages and living conditions for the majority of hard working people.

I'd like to be wrong.