Sunday, December 21, 2014

The War on Poverty

Notice that the bottom quintile is lifted briefly about 10 years, and after that the top quintile takes off. Poverty is lucrative business for politicians and bureaucrats.

With 126 programs to transfer wealth, there's not enough incentive to give up the government safety net and take the risk that education, investing and marriage require.

household-incomes-growth-real-annotated

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