Three Interesting things from The Poverty Paradox: Understanding Economic Hardship Amid American Prosperity
Call it the English major in me, but I’m one of those people who read the latest books on the social economic dynamics of poverty. So, here are my favorite things from The Poverty Paradox: Understanding Economic Hardship Amid American Prosperity. (Note: I have not read the whole thing yet.)
The United States has a slightly lower rate of poverty than other developed countries, but . . . U.S.’s poverty rate is at 26.8% and OECD countries at 29.3%. So far, so good. Other countries cut their poverty rate down by two-thirds or more with their social support programs. That is, their welfare programs lift people above the poverty line. Not so for the U.S.! After taking into account welfare programs, the U.S.’s poverty rate is 17.8%, almost double the OECD average excluding the U.S. In other words, we leave people in poverty even if they are getting help.
By age 75, 76% of Americans will have spent at least one year of their lives near the poverty line (150% of Federal Poverty). It’s not a question of whether a person will be financially considered in or near poverty; it’s a question of when. I set this apart, however, from “experiencing” poverty. One year of low income does not make poverty for a person whose social frame is middle class.
In 2020, nearly 70% of American working people age 25 to 59 had jobs that paid less than $663 a week. That wage equals 200% of Federal Poverty for a household of two people. Thus, two full-time workers in the vast majority of American jobs STILL cannot make ends meet. This makes the “get a job” solution to poverty moot.
I recommend the book, but only if you can face a lot of discouraging news. Not a stocking stuffer, unless you have really weird friends.
Cheers and Happy Thanksgiving!
