The United States is looking at record poverty rates for 2009, according to the Associated Press. AP interviewed demographers, for information on an upcoming Census report, to be released this Thursday. 1 in 7 Americans lives in poverty, something not seen since the early 1960's.
Interviews with six demographers who closely track poverty trends found wide consensus that 2009 figures are likely to show a significant rate increase to the range of 14.7 percent to 15 percent.
Should those estimates hold true, some 45 million people in this country, or more than 1 in 7, were poor last year. It would be the highest single-year increase since the government began calculating poverty figures in 1959. The previous high was in 1980 when the rate jumped 1.3 percentage points to 13 percent during the energy crisis.
Among the 18-64 working-age population, the demographers expect a rise beyond 12.4 percent, up from 11.7 percent. That would make it the highest since at least 1965, when another Democratic president, Lyndon B. Johnson, launched the war on poverty that expanded the federal government's role in social welfare programs from education to health care.
Demographers also are confident the report will show:
_Child poverty increased from 19 percent to more than 20 percent.
_Blacks and Latinos were disproportionately hit, based on their higher rates of unemployment.
_Metropolitan areas that posted the largest gains in poverty included Modesto, Calif.; Detroit; Cape Coral-Fort Myers, Fla.; Los Angeles and Las Vegas.
While many articles blame Obama, right now we have Republicans demanding tax cuts for the rich to the point of filibuster.
Folks, especially our conservative leaning friends, while we're not pleased with either party, someone kindly inform Republicans their desire to give the rich even more wealth and take away what meager change is still in the pockets of your average citizen, is disgusting and should not be rewarded at the polls in November.
1 in 7 is over 14%.
Extending Tax Breaks
What I don't get where they come up with the limit of 200,000 for single filer and 250,000 for joint filers.A small buisness can reach that limit or more importantly want to go over that limit,after all I am sure a business doesn't want run their business with the priority of not going over.The best bet without a doubt is to raise that limit and keep the tax break for the lower bracket,not playing politics just to get elected.Lower income brackets spend far more of their disposable income than the higher brackets.Time will tell what they do because I assure you that they are more concerned with lobbyests intrests than the average citizens.
the bush tax cuts & 2 wars
are what got us into this hole in the first place. But neither party will deal with China, trade and offshore outsourcing.