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by dahfizz
1941 days ago
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> By growing inequality and pushing people into poverty I am sick of hearing about poverty as a growing problem. It simply isn't. Median income, and the lowest income quintile, have grown steadily. The percent of Americans living in poverty has been declining. Median wealth is still lower than it was before the 2008 crisis, but it was growing strongly before and has grown strongly since the Great Recession. All trends are upwards. Do not confuse growing inequality with growing poverty. Some are getting richer faster than others, but statistically everyone is getting richer. Is there a specific metric in mind when you say people are being pushed into poverty? Or is it something you have just heard elsewhere? |
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However, even though the overall rates were returning to flat before the pandemic - the percent of people below 50% of the poverty line in the US has been historically higher by 50% than it has been in history since the beginning of the measure.
https://poverty.ucdavis.edu/faq/what-current-poverty-rate-un...
If you're an HN reader, you have to realize that for the most part you are in an incredibly fortunate bubble of being in a job that is in demand in a financially supported sector of our economy - it is not that way for many Americans (or many other citizens of other nations).