Let's not forget that the US poverty line is artificially kept low using an outdated formula to generate better outlooks and not show the economy has been destroyed since the 1960s for the average person.
Officially the formula is
>The official poverty line as currently defined by the Census Bureau is "three times the cost of a minimum diet in 1963" – meaning it's measured by how much families spent on food five decades ago.
If the poverty formula were correctly updated to reflect shelter (i.e. housing/rent), I bet 50% of Americans would be classified as living in poverty.
Officially the formula is
>The official poverty line as currently defined by the Census Bureau is "three times the cost of a minimum diet in 1963" – meaning it's measured by how much families spent on food five decades ago.
If the poverty formula were correctly updated to reflect shelter (i.e. housing/rent), I bet 50% of Americans would be classified as living in poverty.