US law professor exposes system that makes a profit from poverty

Consider that one of the classic forms of “welfare” in this country is also absolutely a form of corporate welfare too – food stamps. Many big corporations owe a large part of their bottom lines to these programs. In some places one can even buy McDonalds and other fast food directly with EBT cards. Years ago we did a story on how JPMorgan has EBT servicing contracts with states worth hundreds of millions of dollars.

Add in Walmart and other discount stores that see immense flows from government programs and one begins to see the picture.

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What CEOs Should Be Saying About Inequality

Is inequality bad? It is assumed that it is for some reason. And to the degree that it is caused by the already powerful gaming the system it is absolutely a problem and one we examine closely here. (That the big banks have access to the Fed window and that the Fed backstops the bankers is a good example of unjust inequality of wealth.) But what of an inventor who made the world a better place? Should a person or company who cures cancer for instance feel bad in any way about the vast sums which would likely follow such a cure?

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Crony socialists see the fury of the citizenry in Brazil (Video)

Both the current president Rousseff Dilma and the former president Lula da Silva, both of the socialist Worker Party, have been caught (it appears according to a publicly released wire tap) colluding to avoid justice. People spilled into the streets last night, again, to demand Dilma’s and now Lula’s head.

Just a few years ago both leaders were darlings of the Chavista (and socialist) inspired “Pink Tide” in South America. That tide has clearly turned. But it has not taken Dilma out to sea –

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A good idea: City allows people to pay off parking tickets with food donations

I despise parking tickets primarily because they are such a racket. Washington DC, the major city in which I drive regularly collects tens of millions of dollars in parking ticket fines each year. If one visits DC keep an eye out for the folks in the red jackets. They’ll answer your questions and give you directions but they are also patrolling the streets looking to fine drivers.

I’ll grant you that there are legitimate reasons for parking tickets.

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World’s Poor: “We Want Capitalism”

The way out of poverty is through capitalism, free enterprise, free markets, and free prices. But so many people who I believe honestly want to do good do not understand this. They believe that central planning and aid from “rich countries” will solve the world’s problems even though they have only worsened things in aggregate around the world for decades.

Where poor people can build wealth and enjoy property rights and honest pricing the tendency is toward prosperity.

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Why real capitalism is so amazing at creating wealth for everyone (Despite what you have been told) VIDEO

The state would prefer to keep the capitalists down on the bottom. Innovators make things uncomfortable for the powerful and connected.

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Nancy Pelosi’s Life in the 0.1 Percent

Ms. Pelosi has played the crony capitalism game well. The way she sees it – I promise you this is how she sees it – she’s just doing well, while doing good.

It’s the tune of many a crony.

“See, it’s OK that I live like this, even though I rail against the ‘rich,’ because I am one of the good guys. I’m for more money for welfare, and all sorts of other government programs to help the peasantry…

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About Inequality: Rich Get Poorer Over Time, Not Richer

Sell! Sell!

I did not grow up with money. But I did work in finance for years and I have known a number of people with significant wealth. I also live in an old money town, Charlottesville, Virginia.

There is an adage about significant wealth which I think holds generally true and that is that “old money” is smaller than “new money.”

Often with older money there is some patriarch a few generations ago who made a pile of cash in some endeavor,

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Former Maryland Gov explains that the idea that crony capitalism hurts the poor and middle class is “bull—-“

Governor O’Malley it should be noted wants to be the president of the United States of America. Though he has not officially announced he may challenge Hillary Clinton for the Democratic nomination.

Consider for a second how flatly ignorant this statement is;

“But it is not true that regulation holds poor people down or regulation keeps middle class from advancing. That’s kind of patently bullshit.”

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New Poll: Obama Aids Rich, Not Middle Class

From last summer. Oil is WAY cheaper. (Obviously.)

One doesn’t need a poll to see this. During the Obama presidency the rich have done quite well. The so called “underclass” has been largely placated. (Obama got rid of Clinton era “workfare” for instance making welfare a “life choice” again.) But the middle class, the core of America, has been hurt. There is simply no denying it. (I mean one can, but one would be wrong.)

It’s not entirely Obama’s fault.

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Condi Rice on School Choice: “Anybody Who Defends The Status Quo In The Education System, That’s Racist To Me”

I am not the biggest fan of Condi Rice. Though a somewhat dissenting voice on Iraq she still was for the war which has proven to be a disaster. Saying that, on this issue she is absolutely correct. She gets a bit partisan and all pro-Republican at the end but what she says about poor black kids stuck in terrible schools is certainly how I feel.

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Indiana town moves to seize over 350 homes to make room for private developer

The 2005 Kelo Decision by the Supreme Court is one of the worst decisions ever handed down. (I still can’t believe it happened.) It allows cities to declare areas “blighted” so that private developers can come in and develop newly cleared land.

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