Poverty in Kentucky

by Laura Ellis on October 26, 2010

The latest census numbers on income, poverty, and health insurance are out, and the news doesn’t look good for Kentucky. Poverty is up 1.3% in the Commonwealth from last year. That’s more than the national average, and due in large part to the loss of manufacturing and construction jobs during the recession. This Wednesday we’ll take a look at the contributing factors that keep Kentuckians in poverty, and explore some of the differences between urban and rural poverty throughout the Bluegrass. Join us with your thoughts and questions.

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Charles A. Bowsher October 27, 2010 at 12:56 pm

The one guy said the rich are paying at a higher tax rate. That is simply not true. For earned income it might be true, but for the wealthy the major part of their income is on capital gains which are taxed at only 15%. Why do you think the Hedge fund managers want their income considered capital gains instead of earned income. During Bush’s term the cap. gains rate went as low as 5%, which is what the greedy bums would like to get to!

Rob Maranville October 28, 2010 at 6:49 am

One guest asserted correctly that the Federal Reserve could be implicated in several recessions and other downturns in the past, but incorrectly that it was not at fault for this, Great Recession. While Federal policy (and the inherent political pressure) was the driving force – Fed action, or lack thereof, is directly blamed for artificially low interest rates, far below what a coherent market would dictate, which led to cheap money driving up real estate prices (inflating market values) leading to the typical Fed boom/bust cycle yet again, only in highly exacerbated form.

Using the original impetus of the community reinvestment act, mortgage companies and banks were essentially forced under threat of Federal penalty and restriction of other business to lower their standards and thresholds for lending to encourage home ownership to unqualified buyers. This set a precedent for further extension of credit to qualified buyers setting off a flurry of house-flipping speculation.

The FED is as much at fault for this recession as any and all boom/busts it has been responsible for in it’s ignominious history since 1913, as a private banking cartel – using the power of the state to enforce it’s monopoly

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