A Florida man tried to buy a $60,000 BMW X-6 SUV with his Electronic Benefits Transfer (EBT) card and credit card on Thursday. The auto dealership in Pompano Beach "declined 36-year-old Nicholas Jackson's business" when he offered to pay with food stamps, according to the Martin County Sherriff's Office police report.
Jackson returned the next day and took the car, plus 60 sets of keys. He was apprehended 70 miles north, where authorities say he drove until the car ran out of gas.
Misuse of food stamps has become a heated issue as we near the 2016 presidential election. FOX Business' "Varney & Co." highlighted Jackson's case this morning, and Money Morning Chief Investment Strategist Keith Fitz-Gerald weighed in:
Sixty-one percent of readers on Debate.org believe food stamps are being abused; 39% argue that's not the case. Where do you stand?
Tweet us @MoneyMorning or leave a comment below to make your argument.
What Investors Must Know This Week
- Grab These Shares Now to Cash In on a $14.4 Trillion Market
- These Four Stocks Are the Next Group of "Profit Doublers"
- Look Who's Really Behind the $2 Trillion Stock Buyback Scam