Canada is not a communist country, really!

America has quite a serious poverty situation.

The number of Americans living in severe poverty - with incomes below half of the poverty line - increased by 1.2 million in 2003, to 15.3 million. (U.S. Census Bureau, Income, Poverty and Health Insurance Coverage in the United States: 2003, Current Population Reports, August 2003)
Click to expand...

Source

Tis a land of extreme opposites, did you know that on average an American CEO earns 531 times more than the average American. I just read "sex, lies and politics" Larry Flynt. Very good book.
 
That is because the mythical "average American"
contributes 531 times less?

That page you linked too is a fricken riot!

Nine out of ten Americans believe the federal government has a responsibility to alleviate poverty.
Click to expand...

*cough* bullshite *cough*

the poverty industry is big business here

I loved the wording on that page. Thanks Loppie
I needed a laugh!
 
The poverty statistics are insanely flawed. It only counts outright taxable income and reflects true wealth not one iota. One may be a pensioner with a 2 million dollar paid off house and have 4 cars in the garage with a 30 acre lot living off of savings... and be considered in brutal poverty.
 
Try this one then.

http://www.census.gov/hhes/www/poverty/poverty03/pov03hi.html

pretty much the same figures.
HIGHLIGHTS

  • The official poverty rate in 2003 was 12.5 percent, up from 12.1 percent in 2002.
  • In 2003, 35.9 million people were in poverty, up 1.3 million from 2002.
  • Poverty rates remained unchanged for Hispanics, non-Hispanic Whites, and Blacks, although it rose for Whites and Asians./1
  • For children under 18 years old, both the poverty rate and the number in poverty rose between 2002 and 2003, from 16.7 percent to 17.6 percent, and from 12.1 million to 12.9 million, respectively. The poverty rate of children under 18 remained higher than that of 18-to-64 years olds and that of seniors aged 65 and over (10.8 percent and 10.2 percent, respectively, both unchanged from 2002).
  • The poverty rate in 2003 (12.5 percent) is 9.9 percentage points lower than in 1959, the first year for which poverty estimates are available. From the most recent trough in 2000, both the number and rate have risen for three consecutive years, from 31.6 million and 11.3 percent in 2000, to 35.9 million and 12.5 percent in 2003.
Click to expand...
And here is how the census bureau defines poverty...it includes investment and interest incomes, so your example wouldn't work, Unc.
 
So basically what you are admitting is
that you are living in poverty by these standards right Unc?
 
Tell you what Bishy
any country that provides housing subsidies free medical
and a free (food stamp) program it is no wonder people are dying to get in.
 
It still does in that invesments also lose value from time to time. There were two years in the last 5 after the tech bust that my income was bloody well negative.

The type of person that is missed over in such statistics are the retired couple living strictly off of social security benefits and own their house and have private transportation. Nothing about the property generates income and being above the age of 65, get to exempt out on the 75% of property taxes that are school taxes. Their collective income is probably 25,000 a year or less and their bills are minimal. Their life is drab, but they still eat what they wish and can take vacations and live a comfortable life.. all in poverty. The lower middle class retired sect is a strong chunk of such 'impoverished'.

Not to say that such people don't exist... they do... but its certainly not as high as claimed. The stats do not take into account the local costs of living at all. Getting by on 25,000 in New York, per se, is nigh upon impossible ... but in Asswater, Iowa ... you're a king.
 
unclehobart said:
The type of person that is missed over in such statistics are the retired couple living strictly off of social security benefits and own their house and have private transportation. Nothing about the property generates income and being above the age of 65, get to exempt out on the 75% of property taxes that are school taxes. Their collective income is probably 25,000 a year or less and their bills are minimal. Their life is drab, but they still eat what they wish and can take vacations and live a comfortable life.. all in poverty. The lower middle class retired sect is a strong chunk of such 'impoverished'.
Click to expand...

And with the aging of the baby boomers, that particular demographic has a frantic growth rate. The "poverty level" will become more meaningless over the next 15-20 years, as it simply doesn't measure tru wealth, and apply it to real lifestyle.
 
Yep the millions of seniors that have high six figure
net worth that will be suckin' down them SSI checks
my bet is they will have to cut them off via means
testing for sure...

There is already a booming industry centered around
hiding income producing assets.
 
Not to say that such people don't exist... they do... but its certainly not as high as claimed. The stats do not take into account the local costs of living at all. Getting by on 25,000 in New York, per se, is nigh upon impossible ... but in Asswater, Iowa ... you're a king.
Click to expand...
Yeah, *sniff I miss Asswater...
 
You must log in or register to reply here.
Back
Top