Question

In: Economics

Do you think that U.S. society can eliminate poverty? To what extent do you think this...

Do you think that U.S. society can eliminate poverty? To what extent do you think this outcome is likely?

Solutions

Expert Solution

Poverty is not inevitable, particularly in the most prosperous nation on earth. Instead, its longevity is primarily the product of misguided interests and intentional policy actions. In fact, both historical experience and thorough studies have also demonstrated that policy decisions will make a difference in the life of low-income households, helping them achieve and stay in the middle class. Politicians and politicians have lately, however, misplaced the political courage to make many of these policies a priority.

The bulk of good policies aren't costless. But the price tags for such services to alleviate poverty are pale relative to the billions of dollars currently expended by the United States on tax cuts to mainly favour affluent people and businesses, funds that could be used to provide affordable meals or access to high-quality child care, decrease homelessness, or invest in low-income children and staff

The bulk of good policies aren't costless. But relative to the billions of dollars the United States currently spends on tax benefits that mainly favour affluent families and businesses, the price tags on many poverty-reducing services pale in contrast to the money that might be available to provide affordable meals or access to high-quality child care, alleviate hunger, or invest in low-income children and staff. In comparison, the price tags of smart policies do not reflect the considerable public savings experienced by the country from investments that enhance health , increase educational success, increase productivity of the population, and boost the economy. To take only one example, an estimated $1.70 in increased economic activity is generated for every dollar expended on benefits under the Supplementary Nutrition Assistance Program or SNAP.

In America, dramatically eliminating poverty can sound like an expensive proposition. But relative to the billions of dollars politicians offer away to the rich each year, at a bargain price, Congress could make a significant difference in poverty. What's more, poverty-reducing investments now would create significant growth benefits for decades to come. Prioritizing the battling families of the country is an investment that Americans can not afford not to make.


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