In the 50+ years since President Johnson declared a war on poverty, the poverty rate in America has not significantly decreased. Nearly 50 million people live in poverty with many more only slightly above the line.
In the 50+ years since President Johnson declared a war on poverty, the poverty rate in America has not significantly decreased. Nearly 50 million people live in poverty with many more only slightly above the line.
“Poor people can’t manage money”
“Poor people don’t take initiative”
“Poor people don’t help each other”
Programs and policies directed at low-income people are generally needs based, which disincentivizes initiative and mutual assistance, adding to the stereotype. This has resulted in the negative perception of low-income families being viewed as liabilities rather than assets. Many mistake their plight for a lack of resourcefulness, drive, or direction in how to run their lives.
75% of low-income families move above the federal poverty line within four years. Yet, 50% slip back under within five years. Under the current system, families struggle to build the necessary assets to weather the next crisis and aren’t rewarded for their initiative in doing so.
We start with the assumption that we have underestimated the capacity and initiative of low-income communities to improve their financial and general well-being. At the heart of the FII model is a trust that low-income families working in peer groups can lead their own change.
