This is a cruel, counterproductive path we are on, and that is not a statement of mere opinion. It is the inescapable conclusion of data-driven, cutting-edge economic research based on real-world evidence and the accumulated lessons of American history.
On the 50th anniversary of the War on Poverty, many Americans are still operating under the assumption that people choose to be poor and unemployed, that they’d rather be lazy than rich, that they can afford the basic necessities of life. But the numbers tell a different story.
You are the most powerful citizens of the most powerful country in the world. Your country needs you. You have the influence, the means, and the brainpower to turn this economy around, but you must know the facts. You must hear the cold, hard truth.
It’s no surprise that the poverty rate rose to 15 percent during the Great Recession. A century of progress has been forgotten.
During a period when the economy doubled in size, the total income earned by 90 percent of Americans didn’t increase by a single penny. All the gains went to the richest 10 percent.