Your September 20, 2018 article “Buoyant Stocks Lift US Household Wealth Mainly for Affluent” sadly paints a picture we have all seen before: the richest one-tenth of folks in this country own about 84% of the stock value. And sadly, the wealth just keeps on flowing “disproportionately and increasingly” to those wealthy households. As a result, low-income working families end up with increased debt and increased financial risks.
But one very significant way we can ease the debt and financial risks of low-income working families is to urge our members of Congress to adopt the Senate’s version of the Farm Bill which includes SNAP (food stamps). The House and Senate are currently engaged in negotiations on a final deal on the Farm Bill. The biggest disagreement is that the House, in their version of the Farm Bill, wants to add new and harsh work requirements, making it harder for more than a million low income families to put food on the table. The senate version protects these families. Making cuts or changes to SNAP won’t help anyone find work or move out of poverty — it will just make people hungry and further in debt.