While many wealthy Libertarians and conservatives have been raising all manner of hell over what they see as the teeming unwashed masses of the lower classes living on their taxes by way of social welfare programs, new data is showing that yet again, wealthy Americans are reaping the lions share of many federal programs that were intended to help the poor and working classes.
In 2012, the federal government gave out $240 billion in housing aid. Income data is not available for all of it, but of what is available, more than half went to those with incomes greater than $100,000 ($81.6 billion). Only $40 billion went to those with incomes less than $50,000.
These were the findings of the non-profit Center For Budget and Policy Priorities, published on Wednesday. In effect, the program designed to help lower and middle-income Americans who were struggling amid the Wall Street orchestrated crash of the American housing market, has resulted in yet another handout of taxpayer revenues, not to the idle “takers,” demonized by the Republican party, but rather to their own, upper income constituents.
With increasing numbers of households and families renting as opposed to buying homes and the American labor market transitioning rapidly to that of a low-pay, service oriented economy, the continued catering of policy and services to serve the interests of America’s wealthy and financially secure, serves as yet the latest slap in the face to the growing ranks of those struggling to survive as the myths of trickle down economics prove themselves to be utter fantasy.
Some homeowners who received benefits and federal assistance, even owned multiple homes, while simultaneously rent rates for single family dwellings and rental properties have continued to climb. On December 9th, Housing and Urban Development Secretary Shaun Donovan, while addressing the issue of rental costs said,
The simple fact is that we are in the midst of the worst rental affordability crisis that this country has ever known.
While the old adage of “the rich get richer and the poor get poorer,” is almost a cliché at this point, available data proves that beyond merely being a reality, it is now becoming more of an active practice than simple sad reality.
What is it like to be homeless in America? Watch: