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Re: 50 Facts About The U.S. Economy That Will Shock You
Old 12-23-2011, 11:06 AM   #9
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Default Re: 50 Facts About The U.S. Economy That Will Shock You

Quote:
Originally Posted by Bond View Post
Sorry, I should have given what I said more than a one sentence explanation.

It is based off of what the federal government considers poverty, which is the problem. Let's say we have a family of four that makes $20,000. Would this family be impoverished if they lived in New York City? Certainly. What about in rural Texas? Perhaps not. You're looking at significant state income tax differences (Texas has no state income tax), sales tax differences, and general cost of livings differences. The problem is that the federal government has one number for poverty and low-income cutoffs, but that number is not created equal in every part of our country.
Basically, you're saying since there's exceptions to the actual 'end' figure given for certain areas, the numbers may be misleading? I can agree with that.

But if the relitive numbers to previous statistics are increasing, it's still bad though. They should have used previous numbers as a measuring stick. From what I've read, the numbers of people in poverty are high, but they're definently not even close to an all time high. But we ARE moving in the wrong direction.
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