There’s an old saying that even poor people in America have cell phones and big screen TVs. It turns out that there’s more than a little bit of truth to that.
As it turns out, the percentage of US citizens living in poverty has shrunk.
Especially for blacks and Hispanics, the numbers are at historical lows.
The US Census Bureau is releasing the latest info on poverty in America. Despite what the liberal media is forcing down the throats of the American people, the Trump economy is actually pulling people out of poverty (emphasis mine);
In 2019, the poverty rate for the United States was 10.5%, the lowest since estimates were first released for 1959.
Poverty rates declined between 2018 and 2019 for all major race and Hispanic origin groups.
Two of these groups, Blacks and Hispanics, reached historic lows in their poverty rates in 2019. The poverty rate for Blacks was 18.8%; for Hispanics, it was 15.7%.
The figure below charts historical poverty rates for each of the major race and Hispanic origin groups and Hispanics in the CPS ASEC.
Adjustments are made for Asians, Blacks and non-Hispanic Whites because the recent survey changes resulted in statistically significant changes in poverty rates. Poverty rates for Hispanics are not adjusted because the survey changes did not result in statistically different poverty rates.
The figure shows that for Blacks, the poverty rate of 18.8% in 2019 was the lowest rate observed since poverty estimates were first produced for this group for 1959. The previous low for this group was 20.8% in 2018.
Poverty rates in 2019 were also the lowest ever observed for Hispanics (15.7%), compared to the prior low of 17.6% in 2018. Poverty statistics for Hispanics date back to 1972.
The Asian poverty rate of 7.3% was also the lowest on record.
Interestingly enough, according to a worldwide report from the Pew Research Center regarding personal income across the globe, the breakdown per person is as follows;
- Poor (living on $2 or less daily)
- Low income ($2.01-$10 a day)
- Middle income ($10.01-$20 a day)
- Upper-middle income ($20.01-$50)
- High income (more than $50)
Keep in mind that globally, a “poor” single person has a yearly income of no greater than $730 ($2 a day X 365 days per year = $730).
Again, according to Pew, this is the percentage of who falls into which category;
- Poor – 15%
- Low income – 56%
- Middle income – 13%
- Upper middle – 9%
- High income – 7%
According to the Pew global guide, a single person who subsists on $33.26 is nearly smack-dab in the middle of the “upper middle income” category. Annually, that person pulls in $12,140.
Speaking of the $12,000 range, take a wild guess what the amount of $12,760 is? That’s the amount of taxable income a single person in the United States earns and would still qualify as living in poverty, according to the Department of Health and Human Services.
As far as the rest of the world is concerned, their upper middle income is our poverty-stricken.
But back the status of the world’s less fortunate. The total percentage of the world that makes less than the American Federal Poverty Level (the poor, low income, and middle income according to Pew) comes to 84% of the human population of planet Earth.
The global population is approximately 7.6 billion. Eighty four percent of that total is roughly 6.4 billion.
it sure looks like America’s poor really are better off then the vast majority of the world’s population.