Some Truths about poverty in the U.S.

The keys to poverty: Definitions, time, family.

Definitions change over time and Europe uses a different standard than the U.S., because of technology a middle class person could be said to be a wealthy as the richest people a hundred years ago. Could John D. Rockefeller have breakfast in Chicago and Dinner in Paris?

1959 was the first year they kept track of poverty, in the 50's it is estimated to have been around 23% and that was a decline from the late 1800's when it was between 30 & 50 percent!

The news yesterday was an increase of poverty to 14% and it was all over the news. They point out after the "war on poverty" it went down to 10%, but it had been as low as 11.3% in 2000.

Most who fall into poverty are there for only a short time, family is your best support system, not government. Those that are part of a permenate poor have other sources of income they are not reporting. As a tax preparer I find that the lower the income, the more hiding there is. The wealther clients just understand taxes are part of life and just pay it.

Those that avoid taxes avoid wealth

Dear Mr. President, I have faith in America

I read a quote of yours the other day in the New York Times, “I wish they could see the pride you take in building these great cars, American-made cars. And my message to them is: Don’t bet against the American worker; don’t lose faith in the American people; don’t lose faith in American industry. We are coming back.” The lack of faith Mr. President is not in the critics of bailing out American industries like the auto or the banking, but in your lack of faith that we as a people, an economy could survive without government wisdom and money.

If General Motors had been allowed to fail, the price to take it over would have either come as a purchase of the business and equipments or an increase in production of other manufacturers automobile products. Ford, Inc. is a wonderful example in a business that did not take the risks, avoided collapse and did not take federal bailout money and is not showing real profits and not propped up profits from a non refundable 25 billion dollar bailout like G.M.

The American worker is the most productive worker in the world and will in the long run work its way back to a strong economy. What has happened in this America, one were a 700 billion dollar bailout of banks and Wallstreet business and another 800 billion “stimulus” plan that has only been marginally distributed is another house of cards just like the previous one built on the housing industry. It too will soon collapse and at some point it must collapse to have a true restart and a true foundation to build an economy that is the real come back.