January 30, 2022

Here's why it doesn't really pay to work any more: report

When is it better to earn $29,000 than to earn $69,000? When you’re a single mom living in Pennsylvania, it seems.

Describing what it feels to be the painful reality in America, Tyler Durden, the collective that writes to inflame at Zerohedge, concludes that "for increasingly more it is now more lucrative - in the form of actual disposable income - to sit, do nothing, and collect various welfare entitlements, than to work."

Here's another zinger: New York Times columnist Nicholas D. Kristof recently wrote about families in the Appalachian hill country pulling their kids out of literacy classes since, if they learn to read and write, the parents are likely to lose their monthly stipend for kids with intellectual disabilities.

Durden is actually basing his argument on that of Gary Alexander, Secretary of Public Welfare for Pennsylvania, who published a paper last summer called Welfare’s Failure and the Solution, a scathing indictment of his own state's economic safety net.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...