Capitalism and Poverty

Capitalism and Poverty

The US Census Bureau recently reported what most Americans already knew. Poverty is deepening. The gap between rich and poor is growing. Slippage soon into the ranks of the poor now confronts tens of millions of Americans who long thought of themselves as securely "middle class."

The reality is worse than the Census Bureau reports. Consider that the Bureau's poverty line in 2010 for a family of four was $22,314. Families of four making more than that were not counted as poor. That poverty line works out to $15 per day per person for everything: food, clothing, housing, medical care, transportation, education, and so on. If you have more than $15 per day per person in your household to pay for everything each person needs, the Bureau does not count you as part of this country's poverty problem.

So the real number of US citizens living in poverty -- more reasonably defined -- is much larger today than the 46.2 million reported by the Census Bureau. It is thus much higher than the 15.1 per cent of our people the Bureau sees as poor. Conservatively estimated, about one in four Americans already lives in real poverty.

Another one in four is or should be worried about joining them soon. Long-lasting and high unemployment now drains away income from families and friends of the unemployed who have used up savings as well as unemployment insurance. As city, state, and local governments cut services and supports, people will have to divert money to offset part of those cuts. When Medicare and if Social Security benefits are cut, millions will be spending more to help elderly parents. Finally, poverty looms for those with jobs as (1) wages are cut or fail to keep up with rising prices, and (2) benefits -- especially pensions and medical insurance -- are reduced.

more....

http://mrzine.monthlyreview.org/2011/wolff111011.html

into Poverty. Tavis Smiley.

We are all in this together, always have been, the imaginary categories which tried to deny the existence of the working class are falling away as Capital gets back to business as usual.

nm

must be Capitalism.

:)

:sarcasm:

that anything spent by the working class beyond bare minimum survival is capital gone to waste?

on DU. It's ALWAYS our fault when the owner fuck us over. I'll second the :sarcasm: