Michael Hudson: The business of poverty

Reporter Mike Hudson is not your typical poverty beat reporter. In his years of reporting in Virginia, the Wall Street Journal, and on an Alicia Patterson Fellowship, Hudson went beyond social services to look at the business of poverty.

Hudson investigated businesses who make their money by taking advantage of the poor, and loan officers who falsified applications from borrowers who wouldn’t have otherwise qualified. He was interviewed in Columbia Journalism Review about his approach to poverty coverage.

 

Often new regulations or tougher laws are treated as threats to profitability, as threats to business—as an attack on business rather than as an attempt to rein in bad practices and actually serve as guiding principle that can help businesses stay out of trouble and stay profitable in the long run and not blow up, as we’ve seen.

via Audit Interview: Michael Hudson : Columbia Journalism Review.

One comment

  1. Billal says:

    Yeah, Bob, but don’t forget it is AGI. Which means that inesrett earned on municipal bonds is not included in income; which means deferred comp is not included in income; which means that the seminar vacation I took last year to attend a conference is a deduction; that the fine lunch I had with a client and their wife was a deduction; etc.I am a high wealth individual that came from a lower middle class background. I am appalled at the whining by people who make a great deal, like myself, who believe that as a percentage of disposable or discretionary income that people making less than $200k are the freeloaders. Uh, Uh. The sweet spot of the tax system is that group; we have been shifting taxes from the very wealthy to that group over time.Bob, you will also notice that since 1999 the IRS has not reported statistics on such things as taxes based on employment income. For a good reason. The Bush record would have been at risk. I hope the IRS comes out with and resumes its statistical reporting so people have a better understanding of tax fairness and tax incidence.

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