Tuesday, September 18, 2007

Incentives Count

The poverty level has varied between 11 and 15% since 1973. "Perhaps we shouldn't be surprised. LBJ's War on Poverty programs proved to be an irresistable draw to millions of impoverished foreign born--who could enter legally after the floodgates were opened by the 1965 immigration act", Edwin Robinson at vdare.com, 17 September.

As the prophet Milton Friedman used to say, we can have the poverty we are willing to pay for. Since 1965 we have paid about $11 trillion in current dollars and it still ain't over.

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