By George F. Will • Washington Post
The Bronx, the only one of New York City’s five boroughs that is on the American mainland, once had a sociological as well as geographical distinction. In the 1930s it was called, as Daniel Patrick Moynihan noted, “the city without a slum.” It was “the one place in the whole of the nation where commercial housing was built during the Great Depression.” In the third quarter of the 20th century, however, there came, particularly in the South Bronx, social regression that Moynihan described as “an Armageddonic collapse that I do not believe has its equal in the history of urbanization.”
Of the several causes of descent, there and elsewhere, into the intergenerational transmission of poverty, one was paramount: family disintegration. Some causes of this remain unclear, but something now seems indisputable: Among today’s young adults, the “success sequence” is insurance against poverty. Continue reading
Editorial Board • Wall Street Journal
One reading of the midterm election wave is that voters have concluded that President Obama ’s answer to falling incomes and slow growth—higher taxes on the rich and more redistribution—is tapped out. These policies have been up and running for six long years but the middle class is no better off as a result.
On taxes, Mr. Obama often claims that the rich don’t pay their “fair share,” yet the most affluent one-fifth of taxpayers on average supplied 68.7% of federal revenue for 2011. That’s according to the Congressional Budget Office, which last week updated its statistics on the U.S. distribution of income and taxes for 2011 and preliminary calculations for last year.
As for the top 1%, they funded 24% of everything the government does in 2011. The CBO also estimates that the end-of-2012 fiscal cliff deal that lifted the top marginal income tax rate to 39.6%, plus ObamaCare’s taxes on high-income individuals, increased their average federal taxes by 4.3 percentage points to 33.3% of income. The Warren Buffett minimum-tax rule asserted that no millionaire should pay an effective tax below 30%. Mission accomplished. Continue reading
President Obama’s State of the Union address will focus on “income inequality.” One can understand why he wants to change the subject from the very real problems America faces. His policies have made those problems worse. Obamacare has caused tens of thousands of Americans to lose their health plans and forced them into insurance exchanges that cost more and provide fewer doctor choices. Meanwhile, millions of Americans are still out of work and even more have stopped looking.
On the foreign policy front, the president and Secretary of State John Kerry remain determined to throw a lifeline to Iran’s sinking economy in exchange for vague promises of future cooperation on nuclear proliferation.
The president wants you to forget all that and now consider the plight of the poor. Sadly, he hasn’t done a very good job there either. That’s because his own actions as president have made the poor worse off. Reducing poverty has never been a major priority of this administration. Continue reading
Since this year will mark the 50th anniversary of the “war on poverty,” we can expect many comments and commemorations of this landmark legislation in the development of the American welfare state.
The actual signing of the “war on poverty” legislation took place in August 1964, so the 50th anniversary is some months away. But there have already been statements in the media and in politics proclaiming that this vast and costly array of anti-poverty programs “worked.”
Of course everything “works” by sufficiently low standards, and everything “fails” by sufficiently high standards. The real question is: What did the “war on poverty” set out to do — and how well did it do it, if at all? Continue reading