Malloy touts new tax credit, By JC Reindl, November 23, 2011, The Day: “Gov. Dannel P. Malloy on Tuesday joined Democratic lawmakers and social services advocates to herald the implementation of Connecticut’s new Earned Income Tax Credit for low- and moderate-income individuals and families. The credit was included in the governor’s biennial budget plan that passed the General Assembly this spring. The cost to the state is a projected $110 million this fiscal year. Twenty-five states and the District of Columbia now offer some type of earned income tax credit. Under Connecticut’s program, the approximately 190,000 state households that are eligible for the federal Earned Income Tax Credit will receive an additional credit equal to 30 percent of the federal one…”
Taxing the working poor back to starting line, Editorial, November 20, 2011, Detroit Free Press: “As much as younger pensioners may howl about the state income taxes they’ll have to pay come Jan. 1, the hardest hit group of people who file income tax forms may be the poorest — workers whose wages barely bring their families up to the poverty level. That’s because the state’s Earned Income Tax Credit will drop from 20% of the federal payment to 6%. Although this is better than nothing — which, in fact, was what Michigan had until three years ago — it will return the state to the unwelcome status of taxing some people back into poverty…”
Poverty’s new faces: Where to draw the line?, By Rick Montgomery, November 12, 2011, Kansas City Star: “For nearly half a century, the U.S. government has based poverty levels on a simple formula that nearly all experts consider outdated: Calculate the lowest annual cost of keeping a family fed, then multiply by three to cover other basic needs. For the new poor – such as Amber Vieux, 28, who once earned $19 an hour – grocery bills often aren’t the main problem. Her son won’t go hungry, she’ll make sure of that. What has thrown the nursing student into the assistance line, a place Vieux never imagined being, are the other bills: Day care for her 4-year-old, $575 a month. Mandatory health premiums to study and work part-time at KU Med Center, $350 for half a year. Car payment, fuel and insurance, $600 a month or more. The rent. Utilities. Internet access and her cellphone plan, without which she’d be isolated from the modern world…”
New Poverty Measure: More accurate account of income and benefits still shows growing need, Editorial, November 13, 2011, Syracuse Post-Standard: “For years, economists and others have been arguing that the way the nation counts its poor is outdated. For one thing, the measure put in place in the 1960s overemphasizes the cost of feeding the average family, which has shrunk from one-third to one-seventh of household resources. For another, while the old measure factors in welfare payments, it doesn’t take into account more widely used ‘safety net’ programs like food stamps that aim to rescue many families from the cruelest burdens of poverty. This year, for the first time, the U.S. Census Bureau has adopted a ‘Supplemental Poverty Measure’ that takes into account those safety net programs. It doesn’t replace the ‘official’ poverty measure – that’s still needed to determine safety net eligibility – but it paints a more realistic portrait of poverty in America…”
Editorial: New data offer a fuller picture of life for America’s poor, Editorial, November 9, 2011, St. Louis Post-Dispatch: “The flaws built into the Census Bureau’s official estimates of poverty in the United States never have been a secret. Specialists in the economics of poverty – non-profit service organizations, public service officials, academics, statisticians, even the Census Bureau itself – recognized the inadequacies of the oversimplified estimates almost from the moment they were developed in the 1960s. But on Monday, the bureau released a report describing a new Supplemental Poverty Measure that addresses many of the longstanding imperfections in the official estimates…”
Measuring poverty, Editorial, November 12, 2011, Boston Herald: “The Census Bureau has worked up a new measure of poverty that for the first time takes into account facts in the real world – today’s world particularly. Now we can only hope it will improve official decision-making and public discussion. The official measure, which still will be used and is incorporated in scores of federal laws, was produced in 1964 to measure progress in President Lyndon Johnson’s ‘War on Poverty.’ An economist in the Social Security Administration noted that the Agriculture Department estimated that families of three or more spent one-third of their income on food, so therefore, the poverty level for those families was set at three times their food expenses. It’s been adjusted for inflation but not otherwise changed, even though families now spend about a seventh of their income of food…”
Bloomberg to use own funds in plan to aid minority youth, By Michael Barbaro and Fernanda Santos, August 3, 2011, New York Times: “The administration of Mayor Michael R. Bloomberg, in a blunt acknowledgment that thousands of young black and Latino men are cut off from New York’s civic, educational and economic life, plans to spend nearly $130 million on far-reaching measures to improve their circumstances. The program, the most ambitious policy push of Mr. Bloomberg’s third term, would overhaul how the government interacts with a population of about 315,000 New Yorkers who are disproportionately undereducated, incarcerated and unemployed…”
Can George Soros, Michael Bloomberg save New York’s troubled young men?, By Ron Scherer, August 4, 2011, Christian Science Monitor: “New York Mayor Michael Bloomberg wants to improve the lives of young black and Hispanic males. On Thursday, Mr. Bloomberg announced that the city, combined with his own philanthropy and that of billionaire George Soros, would spend $127.5 million over three years to try to cut down on some of the factors that result in higher rates of poverty, incarceration, and unemployment among young minority men…”
A hand up, not a handout, for young black and Latino men, Editorial, August 4, 2011, Christian Science Monitor: “Blacks and Latinos took the brunt of America’s Great Recession. Their wealth gap with whites is now at a record high. And with large cutbacks in government social programs, there’s a greater need than ever for private giving to help these two groups. That’s the reasoning behind a $130 million initiative in New York City by two billionaires, Mayor Michael Bloomberg and financier George Soros, to target young male minorities with innovative approaches to helping them succeed – as workers and as fathers. Each man is giving $30 million to the public-private project. (Mr. Soros already funds many such programs in other cities.) Known as the Young Men’s Initiative, the three-year project is just the latest of dozens of programs started in recent years to focus on young African-American and Latino males – groups with dreadful rates of poverty, education, and employment…”
