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Being poor isn’t as simple as one might think. According to the US Census Bureau one in eight Americans and almost one in four blacks lived in poverty last year. In the final year of Clinton’ s presidency 11.3 percent of the population lived poverty line. In four years it rose to 15.9 percent (Poverty line is defined as annual income below around $10,000for an individual or $20,000 for a family of four.) Blacks suffer disproportionately from poor education and low quality jobs. According to Michael Tanner of CATO institute a free market think tank in Washington the government is spending more than ever on anti-poverty programs. Then where lies the problem?
Programs when translated by a number of components- state agencies, civil servants and the like, must follow the uncertainty principle. People living in low-income areas of Urban America have to pay for many things: goods cost more and services also unfairly cost more. According to studies 4.5 million lower income families pay 2.7 points more in loan interest rates than families with income $60,000-90,000(9.2 %APR compared to 7.2%) The same disparity is also found in mortgages.
Tailpiece: when you are poor you are likely to be further shafted. Price gouging as it is called in trade circles.

benny