Assets and Household Stability

Leah Hamilton ()
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Leah Hamilton: Appalachian State University

Chapter Chapter 4 in Welfare Doesn't Work, 2020, pp 61-77 from Palgrave Macmillan

Abstract: Abstract The ownership of assets is a more important component for escaping generational poverty than even income. Assets have the power to send children to college, purchase a home, start a small business, and provide insulation from minor emergencies that can devastate financially vulnerable families. However, most current welfare programs discourage savings by implementing low caps on assets for eligibility. While some fear that increasing asset limits would cause an overloaded welfare system and encourage dependence, the opposite appears to be true. Further, low-income families are more likely to have savings and own a vehicle in states with relatively liberal limits. The reasons for this are intuitive. Allowing families to build their own safety nets makes them less likely to need outside assistance.

Keywords: Assets; Wealth; Basic income; Welfare; Temporary Assistance to Needy Families (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:pal:etbchp:978-3-030-37121-0_4

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DOI: 10.1007/978-3-030-37121-0_4

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