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Thread: Census shows 1 in 2 people are poor or low-income

  1. #461
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Aunt Spiker View Post
    Then why is the low-income threshold so HIGH?


    That's more than my husband and I made in the first few years of our marriage.

    Sounds to me like the real issue is MEGA inflation - $45K should be somewhat sufficient: not "the 2nd to bottom rung"

    (I know I'm in so late on this thread)
    How long ago did you get married and I'll adjust it for inflation back to that time (or if you don't want to tell me that info could you do it for us at this site: US Inflation Calucator?). That way we can see what you think of it then. For instance, if the numbers 2011, $45000, and 1990 are put in, it outputs $25k.

    So, assuming you were married in 1990, would $25k have been low income to you then? Or if I overshot and you were married in 2000, how about $34k?
    Last edited by whysoserious; 12-20-11 at 09:51 PM.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    Like how horrible it was in the 90's before the Capital gains tax break for the rich? The horror!!!!!
    Really, how horrible was it?
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by whysoserious View Post
    How long ago did you get married and I'll adjust it for inflation back to that time (or if you don't want to tell me that info could you do it for us at this site: US Inflation Calucator?). That way we can see what you think of it then. For instance, if the numbers 2011, $45000, and 1990 are put in, it outputs $25k.

    So, assuming you were married in 1990, would $25k have been low income to you then? Or if I overshot and you were married in 2000, how about $34k?
    2003 - 18K between the two of us.

    We were fine.

    But again: that was before 2007 . . . I think inflation calculations can only be so helpful and that's part of the whole problem . . . however - to me $45K will always seem to be a lot of money seeing as how I've never earned that much - ever.

    If I went back to the same job I wonder how much I'd earn now as opposed to then.
    Last edited by Aunt Spiker; 12-20-11 at 10:37 PM.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by American View Post
    Really, how horrible was it?
    Capital gains tax rate being 5% higher wasn't horrible at all, that is the point!!!


    As a matter of fact we were doing better with the higher rate than we have been doing since it was lowered. So forgive me if I don't fall for the whining that once again raising the capital gains tax rate 5% will be devastating.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Aunt Spiker View Post
    to me $45K will always seem to be a lot of money seeing as how I've never earned that much - ever.
    That was household income for a family of four, not individual income.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Aunt Spiker View Post
    2003 - 18K between the two of us.

    We were fine.

    But again: that was before 2007 . . . I think inflation calculations can only be so helpful and that's part of the whole problem . . . however - to me $45K will always seem to be a lot of money seeing as how I've never earned that much - ever.

    If I went back to the same job I wonder how much I'd earn now as opposed to then.
    Did you just say there were two of you living off of $18k in 2003? Where? It had to be an extremely rural area... since your rent could not have been over $400.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Catawba View Post
    That was household income for a family of four, not individual income.
    Yes - our 18K was for a family of 5 . . . quite sufficient. I think I'm out of the loop a bit, though . . . 45K right now would be more than sufficient for our family of 6.

    So I'm guess that in this state 45K is way over the region's 'low income' bracket - it's not one size fits all. I can see it being insufficient for living in places like California.

    Quote Originally Posted by whysoserious View Post
    Did you just say there were two of you living off of $18k in 2003? Where? It had to be an extremely rural area... since your rent could not have been over $400.
    In the city - we had two vehicles, rent was around $200.00 or so for a decent apartment. We ate healthy, had health insurance - all the usual expenses. In fact, our lives are pretty much teh same now except now we live rural which actually makes things a bit more expensive due to lack of local convenience.

    I guess this shows that some areas were affected more than others when 2007 hit and I'm referring to a time many years before that . . . I have no sense of how much it would take to live the same way now as we lived back then. Maybe I should research these things and find out. You know: how much has rent for that same apartment increased, factor in the cost of higher gas and utilties . . .etc.
    Last edited by Aunt Spiker; 12-20-11 at 11:46 PM.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Aunt Spiker View Post
    Yes - our 18K was for a family of 5 . . . quite sufficient. I think I'm out of the loop a bit, though . . . 45K right now would be more than sufficient for our family of 6.

    So I'm guess that in this state 45K is way over the region's 'low income' bracket - it's not one size fits all. I can see it being insufficient for living in places like California.



    In the city - we had two vehicles, rent was around $200.00 or so for a decent apartment. We ate healthy, had health insurance - all the usual expenses. In fact, our lives are pretty much teh same now except now we live rural which actually makes things a bit more expensive due to lack of local convenience.

    I guess this shows that some areas were affected more than others when 2007 hit and I'm referring to a time many years before that . . . I have no sense of how much it would take to live the same way now as we lived back then. Maybe I should research these things and find out. You know: how much has rent for that same apartment increased, factor in the cost of higher gas and utilties . . .etc.

    Health insurance cost has tripled since 2003. The wife and I pay over $1000 a month for just catastrophic health insurance. $43,000 for a family of 4 today are the working poor.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by whysoserious View Post
    Did you just say there were two of you living off of $18k in 2003? Where? It had to be an extremely rural area... since your rent could not have been over $400.
    Quote Originally Posted by Catawba View Post
    Health insurance cost has tripled since 2003. The wife and I pay over $1000 a month for just catastrophic health insurance. $43,000 for a family of 4 today are the working poor.
    yeah - some things like that I know have gone WAY up.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by haymarket View Post
    NO NO NO. I am saying - that for the purposes of discussion - let put aside what you want to put aside, Lets leave out who benefits for the moment.

    So now present your case as why capital gains should be taxed at a discriminatory and preferential rate lower than other forms of income like wages.

    Can you do that?
    I don't believe in any taxes on income

    but most experts support a lower tax on LTCG as benefiting society

    you seem to be mad that the rich have more LTCG than others and you are apparently upset that all the rich's income is not taxed at 35% even though you cannot articulate a sound economic reason for taxing LTCG at that rate

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