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It seems to say that the to be in the bottom fifth in the US household income must be less than $22,095 (2001)[0]. That's very close to the federal poverty line
by acover 8y ago
It seems to say that the to be in the bottom fifth in the US household income must be less than $22,095 (2001)[0]. That's very close to the federal poverty line. Not exactly but close.
The way news an documentaries talk about the poverty trap I was expecting 80%+.
[0] - http://ftp.iza.org/dp1938.pdf http://ftp.iza.org/dp1938.pdf
- gizmo686 8y agoAdjusting for inflation, that would be $31,615 in todays dollars, or about 150% the poverty level for a family of 3. Not great, but I would still expect someone at that level to have substantially better odds than someone below the poverty line.
- acover 8y agoThe poverty line for a family of 3 was $14,630. So you are basically right. Remember it includes all the people below that level.