MishpishPeople in America are getting poorer-- is anyone really surprised?
February 26th 2007 02:57
According to a new report, the most powerful and richest nation in the world has one of the fastest growing poverty rates going:
WASHINGTON (AFP) — The gulf between rich and poor in the United States is yawning wider than ever, and the number of extremely impoverished is at a three-decade high, a report out Saturday found.
43% of the nation's 37 million poor people are now into 'deep poverty' — the highest rate since at least 1975.
Based on the latest available U.S. census data from 2005, the McClatchy Newspapers analysis found that almost 16 million Americans live in "deep or severe poverty" defined as a family of four with two children earning less than 9,903 dollars — one half the federal poverty line figure. Those in "deep poverty" had an income under 5,080 dollars a year.
"The McClatchy analysis found that the number of severely poor Americans grew by 26% from 2000 to 2005," the U.S. newspaper chain reported.
"That's 56% faster than the overall poverty population grew in the same period," it noted.
Source: USA Today posted 20 Feb
Certainly some of the money being thrown at the top CEO's in America's could help out? What about the fact the country has s ridiculously low minimum wage:
From the Economic Policy Institute:The inflation-adjusted value of the minimum wage is 30% lower in 2006 than it was in 1979. The effect of the last minimum wage increase in 1996-97 has been completely eroded by inflation. $5.15 today is the equivalent of only $3.95 in 1995 — lower than the $4.25 minimum wage level before the 1996-97 increase.
From NY Times editorial on Feb 15 regarding the minimum wage raise going through the US Congress:
In Round 1 of this year’s effort to raise the minimum wage, the House passed a clean bill, raising the wage from the pitiful $5.15 an hour, where it has been stuck for 10 years, to $7.25 by 2009. In Round 2, the Senate refused to follow the House’s lead. Acting as if the midterm elections had never happened, it passed a bill that pairs the wage increase with special-interest tax cuts priced at $8.3 billion over the next 10 years.
Home of the free, brave and poor
WASHINGTON (AFP) — The gulf between rich and poor in the United States is yawning wider than ever, and the number of extremely impoverished is at a three-decade high, a report out Saturday found.
43% of the nation's 37 million poor people are now into 'deep poverty' — the highest rate since at least 1975.
Based on the latest available U.S. census data from 2005, the McClatchy Newspapers analysis found that almost 16 million Americans live in "deep or severe poverty" defined as a family of four with two children earning less than 9,903 dollars — one half the federal poverty line figure. Those in "deep poverty" had an income under 5,080 dollars a year.
"The McClatchy analysis found that the number of severely poor Americans grew by 26% from 2000 to 2005," the U.S. newspaper chain reported.
"That's 56% faster than the overall poverty population grew in the same period," it noted.
Source: USA Today posted 20 Feb
Certainly some of the money being thrown at the top CEO's in America's could help out? What about the fact the country has s ridiculously low minimum wage:
From the Economic Policy Institute:The inflation-adjusted value of the minimum wage is 30% lower in 2006 than it was in 1979. The effect of the last minimum wage increase in 1996-97 has been completely eroded by inflation. $5.15 today is the equivalent of only $3.95 in 1995 — lower than the $4.25 minimum wage level before the 1996-97 increase.
From NY Times editorial on Feb 15 regarding the minimum wage raise going through the US Congress:
In Round 1 of this year’s effort to raise the minimum wage, the House passed a clean bill, raising the wage from the pitiful $5.15 an hour, where it has been stuck for 10 years, to $7.25 by 2009. In Round 2, the Senate refused to follow the House’s lead. Acting as if the midterm elections had never happened, it passed a bill that pairs the wage increase with special-interest tax cuts priced at $8.3 billion over the next 10 years.
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Comment by Lilla
Enviro Warrior
An Extra Ordinary Life
Dream Herald
I wouldn't be surprised if similar statistics were reflected in Australia. No doubt about it, wars cost us all, lots and lots of money ... and health and infrastructure, roads and education ... all that stuff we elected them for... why do we bother... oh yeah, because of terrorism, that's right, I almost forgot... does that mean they are doing a good job, or that there wasn't a real threat to start with? I can never work it out.
Bad news that.
Lilla ...
Comment by Damo
For the Sake of Argument
My Apologetics