U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
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Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#2Alternative title: "events of 2020 case poverty rate to regress to 2017/2018 levels"
Frankly I'm surprised the effect was so small considering that the industries hit hardest by covid employ a heck of a lot of people who are near the poverty line to begin with. I would expect all those people to be pushed to the other side of the line resulting in a much more dramatic increase in the poverty rate.
Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#3This and a spiraling mental health crisis are predictable outcomes from poor public health policies executed during the pandemic.
For unskilled labor jobs like the service industry, lockdowns are devastating which has fueled the inequality fire in 2020. Now, talks for a massive federal minimum wage increase means further sending people into poverty by destroying the value of what small savings anyone on the bottom might have.
Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#4This and a spiraling mental health crisis are predictable outcomes from poor public health policies executed during the pandemic. For unskilled labor jobs like the service industry, lockdowns are devastating which has fueled the inequality fire in 2020. Now, talks for a massive federal minimum wage increase means further sending people into poverty by destroying the value of what small savings anyone on the bottom mi…
> Now, talks for a massive federal minimum wage increase means further sending people into poverty by destroying the value of what small savings anyone on the bottom might have.
are you suggesting the newly-proposed $15 minimum wage will cause inflation so bad it will destroy people's savings?
Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#5This and a spiraling mental health crisis are predictable outcomes from poor public health policies executed during the pandemic. For unskilled labor jobs like the service industry, lockdowns are devastating which has fueled the inequality fire in 2020. Now, talks for a massive federal minimum wage increase means further sending people into poverty by destroying the value of what small savings anyone on the bottom mi…
people living in poverty don’t have “savings”
Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#6This and a spiraling mental health crisis are predictable outcomes from poor public health policies executed during the pandemic. For unskilled labor jobs like the service industry, lockdowns are devastating which has fueled the inequality fire in 2020. Now, talks for a massive federal minimum wage increase means further sending people into poverty by destroying the value of what small savings anyone on the bottom mi…
Also destroyed is the value of one's work if worth under minimum wage: she will be rendered unemployable legally.
My first job I got as a poor student is now illegal. Had a chat with that business owner (we still keep in touch) and he only can only afford to hire experienced people now. That job pretty much launched my career and life. I was woefully unprepared for it, but I was cheap.
Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#7Alternative title: "events of 2020 case poverty rate to regress to 2017/2018 levels" Frankly I'm surprised the effect was so small considering that the industries hit hardest by covid employ a heck of a lot of people who are near the poverty line to begin with. I would expect all those people to be pushed to the other side of the line resulting in a much more dramatic increase in the poverty rate.
>Frankly I'm surprised the effect was so small
It's not over yet! And won't be for a long time. There are a lot of people just scrapping by right now. All it will take is one big financial hit to knock them down into true poverty.
Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#8This and a spiraling mental health crisis are predictable outcomes from poor public health policies executed during the pandemic. For unskilled labor jobs like the service industry, lockdowns are devastating which has fueled the inequality fire in 2020. Now, talks for a massive federal minimum wage increase means further sending people into poverty by destroying the value of what small savings anyone on the bottom mi…
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Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#9This and a spiraling mental health crisis are predictable outcomes from poor public health policies executed during the pandemic. For unskilled labor jobs like the service industry, lockdowns are devastating which has fueled the inequality fire in 2020. Now, talks for a massive federal minimum wage increase means further sending people into poverty by destroying the value of what small savings anyone on the bottom mi…
people living in poverty don’t have “savings”
Why not? Even under communism when nobody really had money, my grandmother would diligently squirrely as much as she could. My dad did as well, in order to save up for his eventual emigration.
There are ways to live below your means under even extreme situations.
Re: U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
#10Earlier quoted context omitted.
people living in poverty don’t have “savings”
Why not? Even under communism when nobody really had money, my grandmother would diligently squirrely as much as she could. My dad did as well, in order to save up for his eventual emigration. There are ways to live below your means under even extreme situations.
Very very few Americans do this. They should, but they don't. Everything in the culture encourages people to spend.