The Poor and Socialism vs Capitalism :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

The Poor and Socialism vs Capitalism :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website: "Kel Kelly writes: Socialists commonly cite the existence of the poor as a reason for socialism, and they claim that their concern for the poor shows compassion and morality. Since the topic of poverty is a key battleground in the war of socialism versus capitalism, it is relevant to examine what poverty is, how much of it exists in the United States, and how we can truly eliminate it."

Who Are The Poor?

When we hear of the poor, we envision a massive group of people without food and shelter. In reality, most of the poor in capitalistic countries such as the United States are not in such a state. Data from a recent census reveals that of the official "poor":[1]

• 76 percent have air conditioning.
• 66 percent have more than two rooms of living space per person.
• 97 percent own at least one color television.
• 62 percent have either cable or satellite television.
• Almost 75 percent of households own a car (30 percent own two or more).
• 73 percent own microwave ovens.
• More than 50 percent have stereos.
• 33 percent have automatic dishwashers.
• 99 percent have refrigerators.
• Virtually none lack running water or flushing toilets.
• 46 percent own their own home, the average of which is a three bedroom house with 1.5 baths, that has a carport and porch or patio, and the average value of which is 70 percent of the median American home.

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