Come across this article on Washington Post.
On Poverty, Maybe We're All Wrong
Interesting idea. I'll post some graphs later to look at this idea further.
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Thoughts, random thoughts mostly. I guess it's a good idea that I write them down. Just in case...
7 comments:
I wonder what formula they used to define poverty? If I work for a minimum wage job in NYC, am I qualified as poverty? What if I work the same job but in the state of North Dakota or South Dakota, where the cost of living was much lower than NYC? In that case would I still consider as poverty?
there's a standard income poverty line for per person, or per family in the US.
http://www.census.gov/hhes/www/poverty/povdef.html
I think in the world, anyone making less than 1 USD is considered living in extreme poverty.
A simple threshold....that's all. I am actually thinking about the economic justification for subsidizing the poor. I am going to show some charts later.
'subsidizing'?i wish i can pay less tax ... IMO ... will wait for your charts.
Keep in mind though there are poor but lazy people out there who abuse the welfare system by intentionally not working or find ways to falsify the welfare applications to cheat the gov't for free money. Remember the HK couple who survived the tsunami in Indonesia in 2004 and then they got caught for cheating the gov't for welfare money?
Another fact to look at is that the poverty rate in Hong Kong has been gradually increasing over the past 6 years, and you would wonder how much welfare money was actually spent to help the needy...
An article from Washington post -
http://www.washingtonpost.com/wp-dyn/content/article/2007/09/01/AR2007090101234.html?nav=rss_metro
"Income Soaring In 'Egghead Capital'"
Income Soaring In 'Egghead Capital'
http://www.washingtonpost.com/wp-dyn/
content/article/2007/09/01/
AR2007090101234.html?nav=rss_metro
The URL string just got cut off from the last entry of comment.
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