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News@lemmy.world · 15 hours ago

Is $140,000 the New Poverty Line for Americans?

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Is $140,000 the New Poverty Line for Americans?

return2ozma@lemmy.world to

News@lemmy.world · 15 hours ago

A Wall Street portfolio manager made an argument for a $140,000 poverty line for American households. Does it hold water?

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Quilotoa@lemmy.ca
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12 hours ago
Which method does the U.S. use to calculate its poverty line?
- NoneOfUrBusiness@fedia.io
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  https://en.wikipedia.org/wiki/Poverty_in_the_United_States#Poverty_income_thresholds
  
  TL;DR: “The U.S. poverty line is calculated as three times the cost of a minimum food diet in 1963, adjusted for inflation.”

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