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I've met quite a few less-than-well-off folks with significant portions of their net worth in cryptocurrencies. Like work 60 hours a week across multiple jobs b
by pr0zac 4y ago
I've met quite a few less-than-well-off folks with significant portions of their net worth in cryptocurrencies. Like work 60 hours a week across multiple jobs but still qualify for food stamps poor. For a lot of them they see it as their only way to get out of poverty and the skill/knowledge level necessary to interact with those markets has dropped enough they're able to access them with their small amount of available capital. Depending on your perspective this is either because crypto projects are grassroots projects bringing financial freedom to everyone or because the scam has reached a size where it needs to bring those people in in order to continue running without collapsing.
- missedthecue 4y agoI don't think it's mathematically possible to work 60 hours a week and still qualify for food stamps.
- ac29 4y agoIf you're the sole wage earner in a family of 4 and you make federal minimum wage or close to it, you'd still be within the qualifying income range at 60 hours a week: https://www.fns.usda.gov/snap/recipient/eligibility https://www.fns.usda.gov/snap/recipient/eligibility
- missedthecue 4y agoI wonder why anyone would work for $7.25 when McDonalds, Amazon, Target, Starbucks, and basically everyone else these days pay double that at least. Looking at the data it looks like almost no one earns minimum wage aside from waitstaff who get tips on top of it.
- pfraze 4y agoGot curious and did the math. Minimum federal wage is 7.25 in the US. 60 hours a week over 50 weeks is 3000 hours. Pretax that’s 21,750 a year. Food stamps qualification depends on household size. I got different numbers when I googled but 21.75k a year qualified in all of them if there’s at least two people in your home.