Late in 2006, the Hoover Institute published a study compiling the data about wealth in this country. It exposes the fraud in how Liberals measure “poverty” with which they constantly bludgeon the ‘evil rich’ and raise your taxes. The study cites Bureau of Labor Statistics – the “poor” (lowest 20% of income earners) say the make an average of $8,316 per year. But they say they spend $19,059 a year – or over twice the amount they earn. Makes you wonder what they report to the IRS? For the most part, many of these folks are recipients of government social spending and not necessarily in debt.
According to the Hoover study: “By 2001, over half of poverty-level households had cable TV and two ore more TV sets. …one in four officially poor households had a personal computer and one in six had internet access, and three out of four had at least one VCR or DVD – devices unavailable even to the most affluent a generation earlier.” In addition, by 2003, the poverty stricken household owned two or more motor vehicles.
Today’s “poor” are living more comfortably that much of the “middle class” when today’s baby-boomers were kids. What this proves is that the way we measure “poverty” has no relation to reality and how the “poor” are used to further promote the socialist agenda of wealth re-distribution.
