That being said, every day, welfare is being misused. The American welfare system consists of over 80 means tested programs. The programs provide cash, food, medical care, housing, and other social services to low income people. Total spending on these programs was over 1 trillion dollars in 2015 (Marshall, 2015).
AIG got a credit facility of $85 billion from the Federal Reserve in exchange for warrants for a 79.9% equity stake. After that AIG has been kept afloat by more than $170 billion in federal assistance since September 2008. The uproar over AIG pay reached a new level amid revelations that it rewarded employees with $450 million in bonuses for 2008—when its stock fell from $57.14 a share to $1.57 a share. Worse, $165 million of the payments were in the form of “retention” bonuses to employees of its financial products division, which sold the complex derivatives at the heart of the company’s financial troubles. Even more ironic, 52 of the employees quit after receiving their “retention” bonuses.
Why are most Americans Getting Poorer? The current estimated distribution of wealth in America states 80% of Americans (citizens under the poverty line, lower class and middle class) receive 7% of the nation’s wealth while, the top 20%(higher class) have over 92% of the nation’s wealth. Consequently, the respective groups of financial classes parallel this economic condition in that the amount of disposable income the middle and lower classes have been almost nonexistent ("Wealth Inequality in America"). The sources about economic data regarding the country become soused intentional by masses of official organizations depending on the objective that’s being supported with the data. The federal estimate for America in one piece currently has
Planned Parenthood is an independently wealthy entity. As indicated by its most recent yearly report, it has more than one billion dollars in its net assets. In 2014, information demonstrates that Planned Parenthood’s income has surpassed their cost by over 90 million dollars (sba-list.org). Data demonstrates that since 1970 Planned Parenthood has performed more than 6 million abortions. In 2013 alone, Planned Parenthood has performed a record of 357,653 abortions
Over the years we have seen a rise in the Medicare, Medicaid and the Children 's Health Insurances programs, all government programs that provides a right to health insurances has seen a rise since 1985, in that year it totaled less than 10% of the federal budget, but by 2012 these programs took up 21% of the federal budget. Studies have shown that Obamacare will increase the federal deficit by $300-$700 Billion in the first ten years, and could increase the deficit to $1.5 trillion in the second 10 years. If everyone was covered by the universal right to health care than the federal deficit can even larger. I think politicians are mistaken because they look over the fact that by instating Universal health care, it could reduce the administrative cost. According to the American Medical Association, on average, private health insurance plans spend 11.7% of premiums on administrative costs vs. 6.3% spent by public health programs.
In a study conducted in 2013 by The Economic Policy Institute, a financial think-tank devoted to analysing the ebbs and flows of the national economy, it was documented that while the average Massachusetts one-percenter grossed an annual household income of $1,692,079, the average ninety-nine percenter grossed a household income of only $56,115 which leaves us with a vast wealth gap of $1,639,964. It also states that the cumulative one-percent takes home nearly a quarter of all the income in the state. This is a perfect example of what it means to be gilded because although Massachusetts prides itself on its economic success, it’s evident that while the ninety-nine percent are becoming poorer, the one-percent are getting richer. This type of income inequality has existed in America for a very long span of time and was one of the main reasons that the first “Gilded Age” was considered “gilded” in the first place, according to the PBS.org’s “Andrew Carnegie: Rags to Riches timeline” Andrew Carnegie, one of the poster boys of the “golden” aspects of the “gilded age” due to his rise from immense poverty to extraordinary wealth, grossed in a grand total of nearly $25,000,000 in 1890 while the average public school teacher earned $256. This just further proves that we’re living in modern gilded age because although we 've improved the state of income inequality since the first gilded age, it’s still a big problem that affects us on a global
By 1937, the food became much cheaper considering that the war ended and that people have been able to recover from the damages the war had brought on. Families later reported having spent only 35% of their income on food in the same year. The consumption of dairy products, cereal and fruit had considerably increased by the mid-20th century. The amount of fat and sugar intake had equally increased. Sugary breakfast cereals became very popular, and other new foods in the 20th century diet consisted of yeast, baking powder, custard powder, jelly, self-raising flour, and pickles.
The world health organization has revealed that the illegal trade in kidneys has risen to such a level that an estimated 10,000 black market operations involving purchased human organs now take place annually or more than an hour. The world health organization (WHO) estimates that over 100,000 organ transplant has performed across the world every year. But due to a mix of government policies, personal beliefs about organ donation, and our ability to safely harvest organs quickly, we would need over ten times as many donations to meet global needs. It is a universal truth, that whenever supply doesn’t meet demand, people turn to illegal means. WHO estimates 5% to 10% of all organ transplants performed worldwide are illegal and out of that 75% are the kidneys, the most sought-after organ.
One of the studies analyzed over half a million people in 10 different European countries. Which makes it the largest study of it’s kind on coffee and mortality thus far. Scientists found a close link between coffee consumption increase and risks of mortality decrease. The second study was rather unusual, as it surveyed only non-white populations.
After an annual $100 deductible per person, the Fund will cover 80% of the cost for covered items provided the expense is reasonable and customary. There is a maximum payment of $5,000 per person in any calendar year. The following items are covered under this benefit: Emergency ambulance/nonemergency ambulance or ambulette if medically necessary ($2,500
While describing the World Food Bank, he mentions that between 1960 and 1970 the US alone spent $7.9 billion through taxes to help other countries have food. He later mentions the speed of the poor population multiplying versus the wealthy. Noticing that the rich only increase by 0.8% every year and the poor increase by 3.3% every year, can create a concern. Hardin says that “the doubling time for this aggregate population is twenty-one years, compared to eighty-seven years for the US” (Hardin 735). This shows that the poor population would have doubled four times before the US doubled once.
Like the bike you bought after saving lawn-mowing money for a year, welfare reform was the prized trophy of the conservative governing philosophy. We believed that we’d found the vehicle of social mobility for poor Americans, once and for all. No one should live on taxpayer money without doing some work on their own, right? Everyone agrees, right? Wrong.