In the LTE “Mortgages for low credit scores” Mr. Hancock claims the reason the poor have low credit scores is “poor financial management”. This old Republican trope of the poor being responsible for their poverty can be easily countered.
Look at the Economic Policy Institute’s charts on hourly compensation versus productivity or cost of living. Read the Federal Reserve Board report on a family’s ability to deal with unexpected expenses. Or look to your own budget. How would you survive on unemployment compensation of between $200 and $320 per week; or on a minimum wage of $13/hour?
Then consider who supports tax cuts for the rich; eliminating food stamps and Medicaid; reduced funding of education limiting economic opportunity for students; eliminating unions; weakening bank regulation; and abolishing minimum wage. Should a CEO’s compensation really be 400 times more than the average worker?
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We can make a strong case that Republicans are responsible for poverty. Vote them out of office!
Dee Maitland, Retired commercial banker
Marana
Disclaimer: As submitted to the Arizona Daily Star.
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