Economist David Henderson, a fellow on the Hoover Institution, writing at EconLib.org, April 25:
The 2022 Economic Report of the President is lastly out. . . . Here’s an attention-grabbing passage . . .:
“Official estimates for the year 2021 will not be released until late 2022, but in 2020, the poverty rate fell to 9.6 percent from 11.8 percent in 2019, according to the Supplemental Poverty Measure, which accounts for the resources that many low-income households receive from the government (Fox and Burns 2021). Declines in poverty were even larger for particular racial and ethnic groups, with the supplemental poverty rate among Black and Hispanic Americans falling by 3.7 and 4.9 percentage points, respectively.” . . .
The paragraph quoted above is correct. But discover what they don’t say. They don’t discuss concerning the enormous drop in black and Hispanic poverty from 2017 on. I feel a part of the reason being the 2017 tax reduce. But whether or not you agree with me or not concerning the trigger, the purpose is that they focus solely on the half that they’ll arguably attribute, a minimum of partially, to the large federal subsidies in 2020.
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Appeared within the April 28, 2022, print version as ‘Notable & Quotable: Poverty.’
Source: www.wsj.com”