After this recession, as most of the poor continue to linger in poverty, we won't be collecting any of the revenue that they could be generating. And when another recession hits and our expenditures skyrocket again, we'll cut programs for the poor and taxes for the rich again. And again. And again.
America can't be saved from the top down. The ship is leaking from the bottom. The debates on the campaign trail and in Washington must not continue to focus on topside staterooms while ignoring the damage below.
"Financial reform" is a boon for people in the payday loan business. When people fall out of the world of traditional banking, they are still going to need bank-like services. Payday lenders will be in position to fill the gap.
If the usual ways of contacting Congress aren't satisfactory, sing to them. With apologies to Rogers and Hammerstein, we have created a new version of "Surrey With the Fringe on Top" that we call "Binge on Top." Have a listen.
I wish liberals would get off their high horses and let go of their quaint little idea that there is some sort of conspiracy against the working class. There is no conspiracy. We are getting reamed in a very public way.
Without regular increases to the minimum wage, the number of "working poor" is rising again. New data released last month adds more evidence that higher wage levels do not force employers to lay off workers.
The true issue here is not whether for-profits play an important role -- it should be clear that they do -- but rather how to encourage the right kind of for-profits to address the social needs of the poor.
Gary Rivlan notes in his book, Broke USA, "the working poor have become big business." You wouldn't think that poor people would be a growth market, but businesses make big money off people who live paycheck to paycheck.