The $140k Question

3 days ago

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Michael Green's claim that the poverty line should be $140,000 is widely debunked as absurd, given that median household income in the U.S. is around this figure.
The official poverty line calculation is also criticized as arbitrary, with suggestions that a more accurate figure might be around $50,000.
Green's methodology equates the poverty line with median household spending, which would mean half the population is always in poverty—a flawed approach.
Debunkers highlight that Green's calculations conflate food-at-home spending with total food spending, leading to inflated poverty thresholds.
The discussion shifts to broader issues like rising costs in healthcare, education, and housing, and the challenges of single-income households falling behind.
A significant point is the 'poverty trap' created by high marginal tax rates and benefit phase-outs, discouraging upward mobility.
The post critiques Green's follow-up, which dismisses factual inaccuracies in his original argument, focusing instead on 'vibes' and perceived grievances.
Children are framed as a public good, with rising costs and societal expectations making family formation increasingly difficult.
The post concludes by questioning the real economic challenges versus sensationalized claims, urging a focus on substantive policy solutions.

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