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A prominent CEO in real estate services and investment management, a business leader and tremendous philanthropists in Raleigh, North Carolina, posted something on his Facebook page recently that garnered my attention.
Posts - Lie - People - People - Income
He said in the posts that he was sick of hearing a lie. “Rich people do not create poor people or income inequality. Think about it for a second,” he said. “Rich people actually want and need more rich people so they can stay rich. So who or what is creating income inequality? Our culture is the dominant creator and promoter of income inequality and poverty.”
He then proceeded to name what he called “devastating robbery schemes” that prevail in the country. Several of them were of particular interest, some of which might be categorized under “Government Entitlements” and “Vice.”
List - Culprit - Nation - Impoverishment - Programs
In his list, he argued that a primary culprit of the nation’s impoverishment was “[e]ntitlement programs that reward and reinforce poverty and dependency.”
That’s an astute recognition.
Administration - President - Lyndon - Johnson - America
During the administration of former President Lyndon Johnson in the 1960s, America set out to eradicate poverty and create what Johnson called “The Great Society.” Charles Murray’s book, Losing Ground, is considered by many as the classic study of these government programs, and the book advanced a vexing but accurate thesis concerning them. They were too expensive and mostly counterproductive.
In 1988, The Economist noted less than 1 percent of the poor in America were couples who had finished high school, gotten married, remained husband and wife, and kept a job for at least a year. It was the incentives introduced during the 1960s and carried on through the following years that made it improbable that people would see this as the most favorable chance for escaping poverty.
Alexis - Tocqueville - Philosopher - Country
Alexis de Tocqueville, the famous French philosopher, who came to this country in 1830 to discover...
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