In 1964, President Lyndon Johnson declared his national “War on Poverty.”
The poverty rate stood at 19 percent.
Since that time, the United States has spent $15,000,000,000 (fifteen trillion dollars) in various ways, purportedly in an attempt to eradicate poverty in America.
There are currently over 120 different, but overlapping, federal anti-poverty programs. There are additional anti-poverty programs at state and local levels. Most of these programs have taxation and the redistribution of the income of others at their base.
Recently, the national debt of the United States passed the $15,000,000,000 (fifteen trillion dollar) mark.
The poverty rate now stand at just about 15 percent.
The conclusion: despite high taxation and the redistribution of wealth, the United States still spent an additional $15,000,000,000 (fifteen trillion dollars) that we didn’t have and managed to change the poverty rate by 4 percent.
Do the other 96 percent of Americans whose country is now on the brink of financial ruination believe “The Price Was Right?”
Ronald B. Elder, M.D.