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February 3, 2012

Why the poor should concern Romney

“…the U.S. poverty rate in 2010, the most recent year for which figures are available, was 15.1 percent. Even more disturbing, more than one in five children — 22 percent — was living below the poverty line, $22,314 for a family of four.”

“…Growing up in poverty makes it more likely that you will be stuck there as an adult. According to research by the Brookings Institution’s Julia Isaacs, 42 percent of sons born to parents in the bottom fifth of the income distribution remain at the bottom, twice as many as would be expected by chance alone. The stickiness of poverty has implications beyond simple fairness. More child poverty means reduced earning power later in life and less overall economic growth.”

“…According to the Organization for Economic Cooperation and Development, the United States has one of the least generous safety nets in the wealthy developed world.”

“Food stamps provide about $1.44 daily per person per meal.  Medicaid covers poor children but only the very poorest parents, up to 37 percent of the poverty line if they are not working and 63 percent if they are employed.”

“Supplemental Security Income for the impoverished elderly and disabled lifts them to 75 percent of the poverty level. In 1996, 68 of every 100 families in poverty received welfare assistance; by 2009, that number had fallen to 27 out of 100.”

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