Income is also not everything. How fast prices of everything increase will also determine whether the income you are earning makes you a poor person. That is why inflation is considered the worst enemy of the poor and politicians in many countries, mostly out of self-interest, have passed laws to announce specific inflation targets -- between 1% and 3% per year -- and have adhered to them. The UK, Canada and Germany are good examples.
Another lie is the fact that he's improved the lot of many people because they've been removed from the tax nets. We've called that one too (see here).
3 comments:
And how did China raise 1/3 of its population out of poverty and set the country on economic development path!?
with work and education. not by sitting around complaining.
We're not exactly China where 1/3 of its population was poor although with those dumb Bretton Woods policies 95% of the population has become poorer over the last 5-10 years.
Another reason why job creation may not reduce poverty is that the jobs created are going to the cheap foreign labour that is allowed a bit too easily to work here.
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