Irwin Stelzer: The Art of The Deal has come to government. President Trump wants a piece of the action on transactions needing government approval or funding.
And there is absolutely nothing that CA can do to its wealthiest residents that will increase the economic value of its poorest.
#25 | Posted by madbomber
Then what's this?
How Has Poverty in California Changed over Time?
www.ppic.org
PPIC has been measuring poverty in California since we first opened our doors in 1994. We knew that to make effective and efficient policy, decisionmakers needed a reliable baseline of economic well-being across the state. With experience, we realized that our initial measures of poverty"which couldn't account for state specifics"could be improved. Over a decade ago"and following the lead of the US Census"we substantially revised how we measure poverty to more accurately capture basic needs in our high-cost state.
The result was the California Poverty Measure (CPM), a collaboration between PPIC and the Stanford Center on Poverty and Inequality. Unlike the official poverty metric, the CPM factors in benefits from large-scale cash, food, and housing safety net programs, low-income tax credits, and county-level differences in the state's high cost of living. Two key takeaways from that effort? First, poverty in California is much higher than official poverty statistics would lead us to believe. In 2011, the CPM shows poverty to have been 21.7%, while the state's official poverty rate was 5 percentage points lower. Second, the state has seen substantial improvements over the long term.
...
During the pandemic years something unusual happened. Poverty typically rises when the economy turns down, but the COVID-19 recession was an exception: in spite of severe economic disruptions, poverty declined dramatically because of major government interventions, particularly for children. While the official poverty rate"which does not count tax credits and food assistance"rose, CPM poverty declined from 16.4% in 2019 to 11.7% in fall 2021. We estimate that regular and expanded safety net benefits cut poverty nearly in half (88%) in fall 2021 and by more than 60% in early 2023.
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