alt Hacker NewsSure. A lot of that money doesn't even make it to intended recipients because of corporate welfare and inefficiencies in government.
In addition, there should probably be changes to laws/regulations to address companies that exploit the poorest.
And, many people who are poor have persistent mental/physical disabilities, so part of that spending is because many of these people have it the hardest.
With that said, we could likely fix all of these things and significantly unequal wealth distribution would still result in a lot of poverty.