It would take only 1 percent of GDP, or a fourth of what we spend on defense every year, to lift every American below the poverty line up above it.
How Much Money Would It Take to Eliminate Poverty In America?
This article casts the problem in terms of what could be given up: for instance,
It might be helpful to put the $175.3 billion magic number in perspective. In 2012, this number was just one-fourth of the $700 billion the federal government spent on the military. When you start hunting through the submerged spending we do through the tax code, it takes you no time to find enough tax expenditures geared toward the affluent to get to that number as well. The utterly ridiculous tax expenditures directed toward the disproportionately affluent class of people called homeowners—mortgage interest deduction, property tax deduction, exclusion of capital gains on residences—by themselves sum to $115.3 billion in 2012. Throw in the $117.3 billion in tax expenditures used to subsidize employer-based health care (also a disproportionate sop to the rich), and you’ve already eclipsed the magic number.
Both of the programs mentioned are key subsidies for the middle class. Rawls would go for the trade while Samuelson et al wouldn't. Would you?
In a lot of ways, I think that it is time for the US to come out of the super power mentality that we have held for so long. The massive amount of spending on military projects is getting to be ridiculous. During my time spent in Costa Rica, I got to see how the money that would generally go towards military spending has been implemented into creating sweeping education reform and offering universal healthcare.
ReplyDeleteIt is disheartening that the poverty level in the United States is staying constant at 15%, as we should definitely be decreasing that number on a yearly basis. This just demonstrates that politicians' priorities are elsewhere. The article suggests expanding SNAP and other related programs in order to reduce poverty, yet the House of Representatives just passed a bill to cut food stamps. If this bill advances in the Senate, it will only result in even more people living in poverty. Doesn't seem like the U.S. is attempting to reduce this number.
ReplyDeleteI completely agree with both Devin and Colins' comments. The US most definitely spends to much money on defense when we are already known as one of the most powerful military countries in the world. Even if they were to take less than an 8th away from defense spending, it can still make a significant amount change for those below the poverty line.
ReplyDeleteTotally agree with everyone. I was trying to make exactly this point in a previous blog!
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteAgree with Colin. In order to spend less, the US really needs to come out of the super power mentality. The United States spent more on its military than the next 13 nations combined in 2011. US doesn't really need to spend such phenomenal amounts on military for national security purposes alone.
ReplyDelete