Poverty and Income

Census Data Show Poverty and Inequality Remained High in 2012 and Median Income Was Stagnant, But Fewer Americans Were Uninsured

The economic recovery has yet to produce significant gains for Americans in the bottom and middle of the economic scale, Census Bureau data released this week show. The poverty rate remained unchanged at a high 15.0 percent in 2012 and median household income remained unchanged at $51,017, some $4,600 below its 2007 level. Income inequality remained at record high levels by a number of measures. Read more

Related:

Official Poverty Measure Masks Gains Made Over Last 50 Years

With the Census Bureau due to release updated figures about poverty in America on September 17, some policymakers and commentators surely will compare today’s poverty rate to those of 1960s and conclude that the last half-century of federal efforts to alleviate poverty have largely failed — that, as some critics put it glibly, “the government declared war on poverty, and poverty won.” But that’s simply not valid or accurate. Comparing today’s official poverty rate with those of the 1960s yields highly distorted results because the official poverty measure captures so little of the poverty relief that today’s safety net now provides. Read more

Related:

Chairman Ryan Gets 66 Percent of His Budget Cuts from Programs for People With Low or Moderate Incomes

House Budget Committee Chairman Paul Ryan’s new budget plan would get at least 66 percent of its $5 trillion in non-defense budget cuts over ten years (relative to a continuation of current policies) from programs that serve people of limited means, standing a core principle of the Simpson-Bowles fiscal commission on its head.

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Basics

The poverty guideline, the federal government’s estimate of a minimum income used in determining eligibility for many federal programs, is $22,050 for a family of four in 2008. The federal minimum wage is currently $7.25 per hour, though many states (and some municipalities) have set their own minimum wages at a higher level.

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The Center analyzes major economic developments affecting low- and moderate-income Americans, including trends in poverty, income inequality, and the working poor.  In addition, we analyze the asset rules in various public benefit programs that can discourage low-income people from building modest savings and highlight potential reforms.

By the Numbers

Poverty Rate Unchanged in 2011 But Has Risen Over Last Decade
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