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Being poor is expensive, credit ratings are scams, and private charity is already overwhelmed as-is. February 20, 2014

Posted by Erin Ptah in News Roundup.
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“Most private-sector employers offer no sick days, and many will fire a person who misses a day of work, even to stay home with a sick child. A nonfunctioning car can also mean lost pay and sudden expenses. A broken headlight invites a ticket, plus a fine greater than the cost of a new headlight, and possible court costs. […] No amount of training in financial literacy can prepare someone for such exigencies—or make up for an income that is impossibly low to start with.

After food stamps were reduced at the beginning of November, New York City food pantries and soup kitchens ran out of food, turned people away, and reduced the meals they handed out after experiencing a surge of demand.” Just one more reason you can be sure that anyone who says “oh, private charities can handle it!” doesn’t actually care enough to know what they’re talking about.

“MD Anderson Cancer Center in Houston had told Stephanie that their insurance (for which they paid $469 a month) was virtually worthless. So the hospital demanded $83,900, in advance.” (The health care they just got through Obamacare is…completely subsidized. Free.)

“For eight months, she did not tell anyone. There was shame and a residual hope that one of the 300 job applications typed out on her mobile phone would come through. Above all, there was the fear that child services would take away her boy. […] At 3, he has developed a quirk: He saves food.”

“A 46-year-old woman near St. Louis would like to to refinance her mortgage and maybe get some new credit cards. She can’t, though. As far as her bank and the credit bureau Equifax are concerned, she’s dead.

Rich people are enormous tools, news at eleven.

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