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Despite Suze Orman’s Claim Prepaid Debit Cards Still No Good

New Orleans    Suze Orman has made her reputation as a TV financial advisor.  Now she wants to promote a debit card for low-and-moderate income families who have weak credit and want the ability to operate differently.  Her Approved card needs to be renamed as the Improved card, but it’s still not a good card, or [...]

Stuck in Place: Who is Surprised at the Lack of Mobility?

New Orleans    The lack of social mobility has finally gotten so bad that it seems even Republicans have noticed it.  Horatio Alger and the “rags to riches” trajectory of the American dream are dead.  The new narrative is best expressed as “rags to rags, and riches to riches.”

            According to a Jason DeParle piece in [...]

Toil Index and Tax Credits for Home Ownership

Robert Schiller from Yale gave props to Richard Green of USC for his recommendation that there be a targeted tax credit to encourage homeownership.  Green and Andrew Reschovsky of Wisconsin have studied the data closely are clear that the real benefit of existing tax policy allowing a standard deduction for interest on mortgages is for [...]

Celebrating Wage Increases and Asking Santa for More in the Future

            New Orleans               ACORN was a great organization and some of the gifts from its membership to their neighbors and co-workers keep on giving, despite the fact that the organization shut its doors 13 months ago in the United States.

No better example can be found in the automatic increases in [...]

Near Poor: Trouble at the Dividing Line of Poverty

New Orleans                       Nothing like stumbling over the obvious, but then the whole point of being relatively poor or “near poor,” as the Times called it today, is being invisible, no matter what they or anyone else may want to call it.  In looking at the new numbers that try to define the terror and [...]

Is Cable Offer of Internet Access for Low Income Families Real?

New Orleans The Federal Communications Commission (FCC) announced with great fanfare a program that would supposedly reduce the “digital divide” between poorer families and the rest of the highly connected rest of the country.  Sounds good, but reading the fine print on some of these deals, makes me pretty skeptical, or at least of a [...]