Tuesday, September 13, 2011

Poverty Rates By Age Cohort

The Census Bureau released an annual report on national incomes today, which showed some stunning and sad statistics.  In addition to a chart which showed that the median Male worker's wages are unchanged (inflation adjusted) since 1968, there is this chart on poverty rates.

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Aside from the fact that 22% of Americans under the age of 18 live in poverty, what's striking is the improvement in the poverty rate for the 65 and older age group.  Whereas in 1959 this group had the highest poverty rate by a long shot, today it enjoys the lowest level of poverty.  At the risk of being overly cynical I'll point out that the age group with the highest level of poverty has no voting rights, while the group with the lowest votes consistently.  I don't suppose that contributes to social welfare programs which enrich the elderly and are bankrupting the US government though...

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