☃️:architect:elftummy🍟🏔️ on Nostr: The logic was that if a minimally adequate diet could be purchased for a particular ...
The logic was that if a minimally adequate diet could be purchased for a particular dollar amount, multiplying that figure by three would give the amount of income needed to purchase the basic necessities for a minimally adequate life
Back in 1963, that translated into a poverty line of US$3,128 (~$40,000 USD in 2024) for a family of four. In 2019, the same family’s poverty line stood at $26,172 (35,000 2024USD).
For an interesting contrast, that’s less than half what the average American polled in 2013 said was the “smallest amount of money” a family of four needed to get by, or $58,000 (~$80,000 2024USD)
Back in 1963, that translated into a poverty line of US$3,128 (~$40,000 USD in 2024) for a family of four. In 2019, the same family’s poverty line stood at $26,172 (35,000 2024USD).
For an interesting contrast, that’s less than half what the average American polled in 2013 said was the “smallest amount of money” a family of four needed to get by, or $58,000 (~$80,000 2024USD)