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re: What happened when this woman drove a Mercedes to pick up food stamps
Posted on 7/29/14 at 8:54 am to Pettifogger
Posted on 7/29/14 at 8:54 am to Pettifogger
quote:
Yeah it's not like an entire generation marched in the streets and shite on police cars because of this.
Poors are a drop in the bucket. Even if the current trends continue, these subsidies are marginal factors in a six trillion dollar government economy. However, we still find the need to dedicate massive blocks of resources to rooting out undeserving beneficiaries and prosecuting them with much bluster; spending more jailing one of them than it takes to feed three.
Meanwhile, some of the most irresponsible and costly decisions in the history of business went entirely unpunished and virtually no money was spent unraveling the obvious fraud.
2
Posted on 7/29/14 at 9:00 am to The Third Leg
quote:
Meanwhile, some of the most irresponsible and costly decisions in the history of business went entirely unpunished and virtually no money was spent unraveling the obvious fraud.
But how would you punish? If you didn't inject capital, there is a real risk the system comes down. That sucks, I think most agree.
But blaming financial institutions is only half the story. Others who deserve blame:
1) The Federal government which encouraged irresponsible lending practices
2) A population that sought and obtained bad loans, usually through no misfeasance by a financial institution, and claimed it shouldn't be held responsible for its own decisions. Unfortunately, many of these folks are now suing banks and living in homes they're no longer paying for.
3) The population that thrived because of predatory/irresponsible lending's MBS, leading to demand for more and more and more by financial institutions. How many people were complaining about their MBS heavy 401k in 2006?
Posted on 7/29/14 at 9:03 am to The Third Leg
quote:
Poors are a drop in the bucket. Even if the current trends continue, these subsidies are marginal factors in a six trillion dollar government economy. However, we still find the need to dedicate massive blocks of resources to rooting out undeserving beneficiaries and prosecuting them with much bluster; spending more jailing one of them than it takes to feed three.
The entitlement problem clearly goes beyond those beneath the poverty line. I understand why you're saying that in this context, but we both know it's a substantial issue.
As for spending a lot of resources to find undeserving beneficiaries and prosecuting them, this is laughable and simply does not happen, assuming you're talking about prosecution for defrauding entitlement programs.
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