Richardcyoung.com

The Online Home of Author and Investor, Dick Young

The Need for Welfare Reform

By

Originally posted July 23, 2015.

Last year, the federal and state agencies spent about $1 trillion fighting poverty; yet more than 45 million Americans are still living in poverty. In discussing the need for welfare reform, the Cato Institute’s Michael Tanner writes:

But, if we actually want to help the poor escape poverty, we know that work is one of the keys to achieving that goal. In the United States, only 2.7 percent of full-time workers are poor. Even part-time work makes a significant difference. Only 15.8 percent of part-time workers are poor, compared with 23.2 percent of adults who do not work.

For the first time in five years, the House is considering the reauthorization of welfare reform, which Mr. Tanner notes, would provide a rare and important opportunity to remedy some of the flaws that have undermined the original legislation. Read more from Mr. Tanner here.

The following two tabs change content below.

Debbie Young

Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, and practicing yoga.