Saturday, October 17, 2015

Bernie Sanders call your office: The poor have higher incomes in the US in real terms in most cases

Bernie Sanders' debate claims about poor US children are eviscerated here by an adherent of Austrian economics:

"Thus, the fact that the US has higher poverty rates says very little about the actual living standards of the poor. The poor have higher incomes in the US in real terms in most cases. The countries that should really give us concern are the countries that have high levels of poverty and low median incomes. ...  Greece, Mexico, Israel, Spain, Italy, Ireland, UK, and Portugal -- are the ones that have the least to offer the poor."