Saturday, April 4, 2009

Poverty Class

The United States Department of Health and Human Services released the 2009 Poverty Guidelines. For a single person the Department considers $10,830 as the poverty level. Taking this figure in context that means that the United States Department of Health and Human Services believes that a person can live on $10,831 and not be in poverty. That would mean that the person would be able to maintain shelter, food and clothing for under $30 a day.

Since August of 2008, the American Citizen has seen the United States Treasury Bailout multinational corporations where their executives are making in excess of of $5 Million Dollars a year. So the Treasury Department sees the Federal Government as an insurance for the continuation of income for Executives who are earning more than $13,000 per day, while the Department of Health and Human Services believes that a person can live on less than $11,000 per year.

The United States Government does not have an obligation to secure the lifestyles of those that have prospered in good economic times and now find themselves in a position of losing their wealth and status. If the Government believe that a person can live on less than $11,000 a year then there is no justification for any Bailout of any Corporation. The Executives of these Corporations are far from the Poverty Levels as posted by the United States Government.

During the last eight years the debate over income equity all but disappeared. Again we arrive at the question is the best way to build an Economy from the top down or from the bottom up? The answer is obvious but the facts have been distorted by the so called "Conservative Agenda". An agenda that despise minimum living wage requirements but believes in rescuing Financial Institutions who through their own greed and excessive compensation of their Executives have landed in financial trouble. The average citizen does not even need a Bailout, they just need laws that protect them, such as limiting interest rates, late fees and other excessive charges that the Congress allowed in the Bankruptcy Bill of 2007. The most immediate thing that Congress can do to help the American Citizen is to revamp the punitive laws encased in the last Bankruptcy Bill.
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