This is the Cato Daily Podcast for Wednesday, April 6, 2022.

I'm Caleb Brown.

Poverty in the US is a stubborn problem despite trillions of dollars in annual welfare spending so what's left to try.

Economist Colin O'Reilly suggests a massive deregulation on exactly the kinds of

entrepreneurship low-income Americans might like to try.

We spoke this week in Las Vegas.

We've exploited a broad range of ways to address poverty,

American poverty, which is not to be confused with third world poverty or

extreme poverty that other countries face.

But nonetheless we have a certain level of income that we consider to be poverty in the US.

What's left?

Yeah, unlike what we often hear from, you know, pundits talking on TV or writing articles about we need more regulations

to protect the little guy and to help bring down poverty and inequality.

In fact, they've got it backwards poverty and inequality are

raising consumer prices they're preventing the small business from

starting and and benefiting the large business.

They're reducing job opportunities for low income families.

And so these regulations actually fall disproportionately

on the lowest income households.

And if we want to really address poverty and get it to

budge as you said it hasn't moved we need to we need to radically rethink how we're

approaching regulation in this country. The Obama administration making reference to I'll toot my

...