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Author Topic:   Severe Poverty At Its Highest Level In America
DayDreamer
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posted February 27, 2007 04:34 PM           Edit/Delete Message   Reply w/Quote
Severe Poverty At Its Highest Level In America
US Corporate Profits At Highest Levels, Too

16 Million Americans Now in Deep Poverty- Poorest City Is Washington, D.C With 10.8% Being Severely Poor


Feb 24, 2007

(CBS4) WASHINGTON The percentage of poor Americans who are living in severe poverty is the highest in thirty years, in which millions of working Americans are falling closer to the poverty line, and the gulf between this country’s ''haves'' and ''have-nots'' gets wider.

The McClatchy Company - owners of the Miami Herald – a CBS4 news partner - went through an analysis of 2005 census figures, the latest available, and found that nearly 16 million Americans are living in deep or severe poverty.

A family of four, with two children and an annual income of less than $9,903 -- half the federal poverty line -- was considered severely poor in 2005. So were individuals who made less than $5,080 a year.

At the same time, economists found worker productivity increasing sizeably since the brief recession of 2001, but wages and job growth have lagged behind. The share of national income going to corporate profits has dwarfed the amount going to wages and salaries. Median household income of working-age families, adjusted for inflation, has fallen for five straight years.

In about forty states, including Florida, the incomes of the bottom fifth of families grew slower than the incomes of the top fifth over the past twenty years, according to a study by the Center on Budget and Policy Priorities.

And now records show that 43 percent of the nation's 37 million poor people are in deep poverty -- the highest rate since at least 1975.

Nearly two out of three people (10.3 million) in severe poverty are white, but blacks (4.3 million) and Hispanics of any race (3.7 million) make up disproportionate shares. Blacks are nearly three times as likely as non-Hispanic whites to be in deep poverty, while Hispanics are roughly twice as likely.

And the poorest city in the country is the nation’s capital, Washington, D.C., with 10.8 percent being severely poor.


http://cbs4.com/topstories/local_story_055141357.html

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carlfloydfan
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posted March 01, 2007 01:31 AM           Edit/Delete Message   Reply w/Quote
And we cont. to lower taxes for the rich..I believe the trickle down theory has proven to be a load of bull **** twice already! lowering taxes for the rich does **** . It is not proven that they actually pump more money into the economy with saved $, shallow BS for the sheep to eat up and justify taxes.

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AcousticGod
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From: Pleasanton, CA
Registered: Apr 2009

posted March 01, 2007 01:53 AM     Click Here to See the Profile for AcousticGod     Edit/Delete Message   Reply w/Quote
Greenspan is now saying that there may be a recession on the horizon as well. Yay!

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BlueRoamer
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posted March 01, 2007 02:18 AM     Click Here to See the Profile for BlueRoamer     Edit/Delete Message   Reply w/Quote
Why do I feel that instead of predicting what the economy will do, Greenspan dictates what the economy will do?

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carlfloydfan
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posted March 01, 2007 02:49 AM           Edit/Delete Message   Reply w/Quote
America is in a downward spiral right now and our people need to wake up! Look at the debt Bush and his cronies have run up on an illegal war. He has made it easier for corporations to move overseas and exploit workers for cents on the day while the gap between rich and poor widen over here. Dissent is frowned upon (for us or against pig sh!t).

All Bush has to say is, (get this), Go SHOP. Yah, he said that, with all our problems in this country, he encourages us to shop. What a shallow sleeze bag!

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Dulce Luna
Newflake

Posts: 7
From: The Asylum, NC
Registered: Apr 2009

posted March 02, 2007 12:54 PM     Click Here to See the Profile for Dulce Luna     Edit/Delete Message   Reply w/Quote
I actually think its kind of ironic that it is another less wealthy country is helping the poor here with heat. Hmmmm.....

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TINK
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posted March 02, 2007 01:31 PM           Edit/Delete Message   Reply w/Quote
"Why do I feel that instead of predicting what the economy will do, Greenspan dictates what the economy will do?"

I often think the same. I'll take it one step further and say he's a mouthpiece.

"I actually think its kind of ironic that it is another less wealthy country is helping the poor here with heat. Hmmmm....."

Out of the kindness of his heart, no doubt.

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