ast month, senators Rand Paul (R-KY) and Kamala Harris (D-CA) introduced the Pretrial Integrity and Safety Act to encourage states to reform their bail systems. Beyond shrinking our overly expanded incarcerated population, bail reform would boost the United States’ stagnating income mobility by reforming a system that traps the poor in poverty.
Upward mobility has stalled. According to Stanford Professor of Economics Raj Chetty, “social mobility is low and has been for at least thirty or forty years.” Of those born into the bottom income quintile, more than a third remain there as adults. However, progressives who blame the free market misdiagnose the problem. A 50-state analysis found that in more economically free states—those with fewer labor regulations and smaller governments—the wealth of the poor rises more quickly than the wealth of the rich, because freer markets produce more opportunity for everyone. The problem is that government policies like steep bail hamstring low-income individuals’ efforts to advance.
Read the rest at: The Federalist
Income mobility in the United States has stagnated, a fact that hurts the poor most of all. If President Trump wishes to keep his promises to help low-income Americans escape poverty, he should instruct his administration to jettison, rather than expand, non-criminal asset forfeiture.
Non-criminal asset forfeiture lets government agents seize Americans’ assets (cash, but also cars and even houses) on the mere suspicion that they were involved in a crime. Asset forfeiture is intended to deprive criminals of their ill-gotten gains, but frequently enables police to take the property of Americans who remain innocent in the eyes of the law.
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The Koch Brothers recently announced a $21 million anti-poverty program in Dallas, designed to reduce gang violence and encourage young entrepreneurs. But their efforts to end poverty are unlikely to earn credit from progressives, who frequently demonize the family. Senate Majority Leader Harry Reid routinely blasts them for, “crooked works” and “nefarious actions”; and when Charles and David Koch donated $100 million to New York-Presbyterian Hospital, leftists demanded (unsuccessfully) that the hospital return the gift.
Why are the Kochs so often criticized by the left, while far less progressive individuals are given a free pass?
Read more at: Foundation for Economic Education