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willbeurdaddy -> RE: 3.8% Sales Tax on Real Estate (9/16/2011 4:32:31 PM)
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quote:
ORIGINAL: jlf1961
The average monthly Social Security benefit for a retired worker was about $1,177 at the beginning of 2011. The poverty line for a family of two is $14,710.
So a retired couple have an income of $28,248 if they are living on social security.
If it is one person, they make $14,124 a year, and the poverty line for a single adult is $10,830 so, the single retiree is making more than they need to be above the poverty line.
Of course, that income will work out fine if they live in a small town where living expenses run less than $14000 a year. If they live in any metro area in the US, they are not making enough to meet expenses.
Thats the average benefit, but there can be a lot making that only get the SS minimum benefit which is something under 800 a month individual and 1200 with a non-working spouse. Of course its questionable whether many who made minimum wage owned a house that is now paid off.
I think the real point is that "poverty" doesnt necessarily mean the image that the word invokes, and to whatever extent there are SS recipients that own homes and are below poverty just reinforces that point.
There are Western European countries where the median income household doesnt have the living space, amenities and quality of food of a family in poverty in the US.
Apparently in another round of class warfare, Obama is attempting to totally change how poverty is defined.
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