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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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What JP Morgan Chase Makes Off the Food Stamp Program
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Poster Handle
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Anonymous Coward |
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Post Content
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Every $1.00 spent in food stamps generates $1.70 in the US economy.
Quoting: Anonymous Coward 48405435 My opinion is: Every dollar put back into the economy creates more interest profits for the bankers. Yea that's right! That money is sent right back to the bankers pockets where they can loan it back out. When the companies get that assistance money they deposit back it into their banks. The banks then loan most of it back out as cash to collect even more interest on it. The banks have it all figured out. welfare=debt=interest=more debt. repeat.. That money going back into the economy as more debt opportunity. They lobby big money to keep welfare growing because it just helps them earn more. This is my views and may not reflect the views of others on GLP. Opps forgot something. You're 100% right. That money is used to buy food. $1 Is deposited into a bank after a sale is made. That bank loans out about 70 cents or more of that money to an entity. The company who deposited the money still has an account with $1 added on it. The entity who got the loan also has $70 that deposits. Cycle repeats. See how it creates money back into the economy? That created money has interest on it at every recycle step and people pay taxes on it. I'm not very smart but even I understand this.
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