ECFA Accredited

Call to leave a prayer that will be heard around the nation.

Call to leave a prayer that will be heard around the nation.

×

Pray With Others

Record a prayer to share with others.

Dial 844-599-7729

Dial 844-599-7729

Up Next:

Categories:
Articles Videos Events

GREAT IDEA TO HELP WEALTH GAP WITHOUT MORE DEFICIT SPENDING

Lord God, we pray for creative and sensible ideas for problems in our nation, and for people to embrace them.
131 People Prayed

Inequality is real and needs attention.

According to the Urban Institute, average white household wealth in 2016 was $171,000 compared with average black household wealth of $17,409.

Sen. Cory Booker wants government to make deposits into savings accounts for low-income children to the tune of up to $50,000 each.

Sen. Kamala Harris proposes $100 billion in government subsidies for black homeownership.

These kinds of proposals may win some black votes, but should they? Will they really make blacks and the nation better off?

Government anti-poverty spending is not exactly a novel idea. We’ve been doing it since the 1960s, totaling, by some estimates, over $20 trillion since then. Has it achieved anything?

Changes in the poverty rate are barely discernible. And the wealth gap has just gotten bigger.

Per the same Urban Institute data, the wealth gap between white and nonwhite households was $45,188 in 1963, $92,045 in 1983 and $153,591 in 2016.

If a history of spending massive sums of taxpayer funds without results is not enough to discourage this approach, how about asking where the money will come from?

This fiscal year, the federal government will spend $4.5 trillion, $3.5 of which will be financed by tax revenue, leaving a trillion-dollar deficit to finance through borrowing.

According to the latest “Long Term Budget Outlook” from the Congressional Budget Office, “Large budget deficits over the next 30 years are projected to drive federal debt held by the public to unprecedented levels — from 78 percent of gross domestic product (GDP) in 2019 to 144 percent by 2049.”

And, CBO continues, “The prospect for such high and rising debt poses substantial risks for the nation …”

Sometimes it might be reasonable to take a risky plunge into debt, if the investments being made with the funds raised have high potential return and payoff.

But we’re talking here about plunging the nation deeper into debt to spend money in ways that have always failed. Does this make sense to anyone other than politicians who might get in office as a result of buying votes?

There is a way out of the darkness, but it takes principles and courage.

Low-income America isn’t suffering because of insufficient government dependence but because of insufficient independence — ownership. And here we can use government policy to make things better.

Per the Urban Institute, the average savings in retirement accounts in 2016 was $157,884 in white households and $25,212 in black households. Black families, according to the report, “have less access to retirement savings vehicles and lower participation when they have access.”

The headline in a recent Wall Street Journal column reads, “Counter Inequality With Private Social Security Accounts.”

The authors, Jeff Yass and Stephen Moore, propose Own America Accounts, private retirement accounts to where workers could shift 10 percent of their paycheck from Social Security.

The average annual return on Social Security over the last 40 years has been about 1 percent per year, according to Yass and Moore, and stocks returned 6 percent per year.

With Own America Accounts, an average American could have retired in 2016 with between $1 and 2 million in savings over a 40- to 45-year working life, per Yass and Moore.

Furthermore, Social Security is yet another dysfunctional government program. Social Security trustees project that in just 16 years, there will be insufficient funds to meet obligations. So a bad deal will get even worse when our politicians try to “save the system” by raising taxes, raising the retirement age or cutting benefits.

At minimum, make Own America Accounts available to low-income Americans, and help them build wealth through ownership rather than more government dependence. (By Star Parker, Urbancure.org.)

4 Replies to “GREAT IDEA TO HELP WEALTH GAP WITHOUT MORE DEFICIT SPENDING”

  1. Stop penalizing marriage. Lower taxes on low incomes. Grow jobs. During the depression the WPA put men to work. Have a $15 an hour wage in every state. If a couple was working for $15 an hour, with even 2 weeks off a year, they would be making $60,000 a year. Lower the cost of education and pay good teachers more. Teach every student a skill to prepare him or her for a job in today’s business world. These are some of the things I believe would help. And pray for wisdom for those who have the authority to help our country.

  2. There is so much confusion in what to believe and how to improve the situation and opportunities for everyone. Some of the poverty issues are generational and have been passed down through many years. The beliefs have to change for everyone. We’ve been throwing money at poverty for years, to no avail. It starts with God and includes understanding the difference between ‘wants’ and ‘needs.’ I wonder if some of it might include some mentoring relationships — not from a haughty stance, but from a Christ-centered attitude. Mentors who walk alongside, rather than dictate. Remember that Solomon asked for wisdom rather than wealth. Might that be our goal?

  3. That’s a lie. Opportunity is there for everyone. God didn’t make government our God. Stop enabling codependent behaviors. I’m white and make 22k per year with 5 dependants. Democrats use victimization as the new #Slavery Wake Up!!!

  4. Dear Lord God Almighty thank You for everything. Thank You Lord that this country has jobs where Americans can earn their way through life. People can own a home and car and provide for themselves and their families because they work. God please help people help themselves. Give us strength courage and wisdom to what is needed. I pray for this in the mighty name of Jesus Christ. Amen.

Leave a Reply

Your email address will not be published. Required fields are marked *

Share to My Groups

Login

Forgot password? Click here to reset it.

Don't have a login? Click here to create a new account.


Sign Up to Pray for
Your Elected Officials

You will receive our weekly e-alerts.



Already have a profile? Click here to login.

Privacy Policy/Terms of Use

Our policy and terms of use are applicable in any and all Intercessors for America related websites including but not limited to GetAmericaPraying.com and ifapray.org.  Use of this website indicates agreement with its terms of use policies.

We are concerned about and respect your privacy while visiting our web sites. Intercessors for America will never sell, lease or rent your confidential information, though non-confidential information (name and address) may be given to outside vendors. We always will endeavor to take steps to assure that financial information you provide to us will remain secure. We want you to feel safe in your online experience while visiting our site. We, therefore, request that you take a moment to review the following valuable information.

Collection of Information
Intercessors for America does not collect personal information without your knowledge while you are visiting our web site.

However, Intercessors for America allows you to provide personal information on our web site. The type of information we collect directly corresponds with the service you request. For instance, you can make donations, offer your thoughts, opinions, prayers, concerns, ideas, personal experiences, questions and/or suggestions. The type of information we collect is only voluntary and used for purposes of interacting with the website or with others viewing the website.  Also, the information may be necessary to facilitate our response to your specific request such as your name and contact information.

If you request to have a resource sent to you and/or make a donation, Intercessors for America will collect the information necessary to complete this transaction which may include your contact information, credit card number and other transaction information.

If you offer your thoughts, comments, opinions, concerns, ideas, personal experience testimonies, request prayer, ask questions, etc., Intercessor for America collects that information and may use the information in one of the ways set forth in the following section titled “Use of Information.”

Use of Information
Intercessors for America uses the information provided by you to:

Disclosure/Sharing of Information
As stated above, Intercessor for America does not sell, rent or lease your confidential information to others. On some occasions, vendors will approach Intercessor for America with a product that we determine might benefit our supporters. In that instance, we will provide non-confidential information.

Regarding links to third-party web sites
Intercessors for America’s Privacy Statement does not govern any exchange of information between you and any third party web site. IFA does not monitor, and is not responsible for, the privacy and data use policies of its corporate sponsors. We recommend you review their policies (likely to be found on their web sites) prior to accessing, but especially before sharing any personally identifiable information. Similarly, this Privacy Statement does not govern the privacy practices of any third party web site to which you might link from the IFA website.

Ability to Edit and Delete
If you would like to correct, update, add, or delete personal information, simply let us know by calling us at (800) USA-PRAY or write to us at Intercessors for America  P.O. Box 915  Purcellville, VA 20134 and we will respond promptly to your request.

Changes
Intercessors for America reserves the right to make changes to this privacy policy at any time and requests that you review this policy for updates.

Content Disclaimer
Please understand that all postings, messages, text, files, images, photos, video, sounds, or other materials ( “Content”) posted on, transmitted through, or linked from this website, are the sole responsibility of the person from whom such Content originated. More specifically, each person is entirely responsible for each individual item (“Item”) of Content that they post, email or otherwise make available via the Service. Please understand that IFA does not control, and is not responsible for Content made available through the Service, and that by using the Service, you may be exposed to Content, as much as we try to prevent it, that is offensive, indecent, inaccurate, misleading, or otherwise objectionable. For the health of the IFA community you must agree that you will evaluate, and bear all risks associated with, the use of any Content, and that under no circumstances will IFA be liable in any way.  Be wise and understand that IFA does not pre-screen or approve Content generated by our community of website users, but IFA does have the right (but not the obligation) in its sole discretion to refuse, delete or move any Content that is available via the Service, for violating the letter or spirit of the terms of understanding or for any other reason. If you ever find objectionable material please contact us at 800-USA-Pray or use our contact form to notify us.

Questions or Suggestions
Please direct all questions or comments regarding this privacy policy to Intercessors for America at  Intercessors for America P.O. Box 915  Purcellville, VA 20134

This web site may provide links to external web sites maintained by individuals or organizations external to Intercessors for America. Once you access information that links you to another web site, you are subject to the privacy policy of the web site containing the information you have linked to.

Online Personal Safety
We hope and pray that all intercessors involved in Intercessors for America are trustworthy, well-meaning, and have a heart for prayer for our nation.

However, please take the same common sense precautions online as you would offline. People online are not necessarily who they say they are or seem to be. Never give out passwords, credit card information, or other private data. Be very wary of disclosing private information to a stranger you meet via prayer messaging. Even apparently innocent information, like the name of your employer, can be used against you by scammers.

When meeting with someone for the first time to gather to pray or establish a prayer group in your local area, please remember to:

Taking these precautions will help make your online experience safer. Any risk in using Intercessors for America’s online web tools to connect with others is assumed by you. Intercessors for America disclaims any liability or responsibility for acts, omissions, or conduct by you or any other party using its online web tools.

For more information about online personal safety, check out these resources:

Statement of Use
All of the content, images, logos and photos appearing on this website are copyrighted and are the property of Intercessors for America. Other images, brands or logos are copyright of their respective owners. Information and images found on the site cannot be reproduced either in print or electronically without express written permission from Intercessors for America.

The IFA or GAP Web Site may contain links to third party web sites such as those posted by members of the Get America Praying website.  These third party web sites are not controlled by IFA. The links to these web sites are provided for convenience. IFA is not responsible and assumes no liability for the contents of any of these web sites, and unless expressly stated does not endorse these web sites or their contents, products, or services. IFA is not responsible for the content of any sponsor’s Web page linked to the IFA web site, and the opinions and views expressed on the sponsor’s Web pages do not necessarily reflect those of IFA. The contents of the sponsor Web pages are not reviewed in any way before they are linked to the IFA web page. Intercessors for America reserves the exclusive right to remove any links, posts or members that it deems necessary for any reason. The intended usage of the website is for the facilitation of prayer groups.  Requests for donations other than for the owner of the site, posting of blogs and misuse of site is expressly forbidden.  Inactivity of any group or site for more than 90 days will constitute an automatic removal of the member or group from the site.

Skip to toolbar
Share