MCViewPoint

Opinion from a Libertarian ViewPoint

Congrats Poverty, for winning the war on poverty

Posted by M. C. on October 1, 2021

Another war lost. Poverty and inflation won.

But the fundamental premise is flawed. Government can’t eradicate poverty anymore than it can eradicate a virus.

For starters, poverty in the US was already in decline, dropping from 18.5% in 1959, to 13.9% in 1965 (according to US Census Bureau data).

Yet in 1974, a decade into LBJ’s ‘all-out war’, poverty started rising again. Go figure— the 1970s saw the beginning of hardcore economic stagnation and debilitating inflation.

No amount of government support could counteract the destruction they were causing.

And by 1993, the poverty rate in the US was roughly the same as it had been in 1965.

So essentially the United States government had declared War on Poverty… and Poverty won. It was a stalemate at best.

See the rest here

Be seeing you

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