This 36-year-old is running for Congress—and he wants to give families up to $500 per month, per kid. (via CNBCMakeIt)
, the childhood poverty rate in Canada is approximately 13.3%. In the U.S., it's closer to 23.1%. Among the world's 35 richest countries,"Our child poverty rate is a moral disgrace and an economic drag," says Patel. "There's so much evidence about reducing childhood poverty's downstream effects — less incarceration, more apprenticeships, more real employment.", Maloney calls paid family leave one of her top legislative priorities.
"Our economy and our government expenditure is completely and heavily balanced towards seniors and older people," he says., less than 10% of federal budget is spent on children directly through services like education, or indirectly through parents via benefits such as tax credits. The CRFB found that over 30% of government spending goes to the elderly through benefits such as Social Security.
"As a result, children face poverty rates nearly twice as high as the elderly," reads the report, which estimates that by 2021 the federal government will spend more on paying off debt than it will providing support for children. "That's not to say we shouldn't spend money on seniors, but the thing is that there's a massive imbalance in an economy when the time that you are most financially stressed, because you're not a high income earner yet and you're between 20 and 40 years of age, is when you earn the least and then you try to have a child," says Patel.
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