FIRST DRAFT: Fit to print?

[Max Sawicky]

Latest number I have is for 1996.  It was $196 billion.
Of this gap, $90b was filled by social insurance (Social
Security, Unemp Ins, Vets benefits), $25b by cash public
assistance (AFDC, SSI, etc.), $18b by food/housing benefits,
and $3b by EITC net of payroll/income taxes).  In regard to
the latter, what that reflects is that income and payroll
taxes collected from the poor are more than offset, in
aggregate (not for each individual), by the EITC.  So in
toto 69% of the gap is filled by tax and transfer programs.

mbs

On Tue, 2 May 2000, Max Sawicky wrote:


> The poverty gap is defined as the amount of income the poor require to
> all be brought up to the poverty line.

BTW Max, how much money is that nowadays?

Michael
__________________________________________________________________________
Michael Pollak................New York City..............mpollak at panix.com