The Economist has an article (here) that explores how low-income people often pay more for money orders (which can’t be overdrawn from a volatile checking account), or because they can’t — and this is the case for 8 percent of Americans — afford a bank account. Life outside a bank account means you pay piece-meal for absolutely every financial service you need. Imagine you get your benefits sent to you via a bank card. If you don’t live close to the right bank, you end up paying fees. Say what you want about banks (I know I will) but they have become a necessity, and life without one is filled with fees.
Here’s a little bit more on the topic.
And thanks, Leftover, for the link.
From the Economic Policy Institute:
Since 1979, increasing inequality has been the largest poverty-boosting factor, outweighing racial identity and family structure and completely eclipsing the effects of overall economic growth and educational attainment in driving down the poverty rate.
You can see charts and such here.
Darrell Issa (R-California) is the richest congressman in Washington, with a net worth of nearly $500 million. You can find out more about Rep. Issa here, at OpenSecrets.org.
And thanks, Cynical, for the link.
running mate — or he named him president, whatever.
Over the weekend, Republican presidential hopeful Mitt Romney chose Rep. Paul Ryan as his
When Ryan introduced his “Path to Prosperity” budget plan earlier this year, the world stopped, gawked, and then pulled out its knives and forks for its ill treatment of the poor, the infirmed, the elderly.
Ryan, a devout Catholic, could not get his bishops on board. Even his running mate is distancing himself from Ryan’s plan.
Here. See for yourself: pathtoprosperity2013
Posted in Politics
Tagged Catholic bishops, Elderly, Infirmed, Mitt Romney, Pathway to Prosperity, Poor, President, Rep. Paul Ryan, Republican, Republican budget, Vice president
And thanks, DickG., for the photo.