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Stossel: Season 5

5x35 Spread the Wealth
TV-PG

  • 2014-10-10T01:00:00Z on Fox Business
  • 1h
  • United States
  • English
  • Documentary, News, Talk Show
ENDING POVERTY: 50 years ago, President Johnson said America will end poverty by spending more on the poor and creating special programs for them. How did that work out? Today, after taxpayers spent 22 trillion dollars, poverty is more entrenched. THE WAY FORWARD: Congressman Paul Ryan (R-WI) says government programs perpetuate poverty. We need to "break up the bureaucracy" and "focus on getting individuals from welfare to work." POLITICS OF POVERTY: Congressman Jim McDermott (D-WA) says Republicans like Ryan don't care about the poor. I push back. POVERTY, INC: Americans give about 5 billion per week to help poor people. Our government forces taxpayers to spend $27 billion on economic development overseas. But it doesn't work, says the new film "Poverty, Inc." Often it stops people in the developing world from creating their own farms and businesses. CHILD LABOR: We're told sweatshops are cruel. But "Out of Poverty" author Ben Powell says if we really want to help people climb out of poverty, let them work! CASH BY THE TRUCKLOAD: Some say we should end welfare programs and just give people money. Switzerland may give $30,000 to its citizens each year. Is this a good idea? Libertarians debate. HANDS OFF OUR BEER! In most states, people can bring "growlers" to grocery stores or specialty brewers to get them filled with their favorite craft beer. But not in Florida! Arbitrary regulations restrict interior decorators, hair braiders, floor sanders, sports coaches in schools, landscape workers, makeup artists, teaching assistants, and more. The poor are the people hurt most by these regulations. MY TAKE: We rarely help the poor by "spreading the wealth." We know what works: economic freedom. When countries have it, people prosper. Fewer rules bring better lives and make most everyone richer.
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