Poverty closer than it used to be
Eleven million American children, or about one in seven kids, live in poverty. Most were born to it. Statistics say their children will be more likely to experience the same. It isn’t just how hard we work in life; the good fortune of an easier start has a big impact on the future because it means fewer hurdles and more advantages.
For grown-ups, barriers to eliminating poverty are higher than they used to be.
Let’s start by doubling the minimum wage. A single filer working full-time at $15 per hour earns $31,200 a year pre-tax, or about $2,236 monthly after federal income tax. That’s well above 2023’s official (and very unrealistic) poverty level of $14,580. And it’s not nearly enough to cover the basics.
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