Understanding Poverty

[bfp]

Update on Poverty Levels

[thumpcbd]

Its also importaint to note that the govt stats on poverity in this country are developed based on income earned in a year, without taking into account wealth.

According the the govt, if I only made 8k one year, *BUT* if I have a 10million in stock investments that I lived off of in additon to the 8k I made that year. I would still be classified as poor since I only earned $8k in the year.....

Casey
( you can make statisticts mean anything you want)

[Adam D]

Originally posted by thumpcbd
Its also importaint to note that the govt stats on poverity in this country are developed based on income earned in a year, without taking into account wealth.

According the the govt, if I only made 8k one year, *BUT* if I have a 10million in stock investments that I lived off of in additon to the 8k I made that year. I would still be classified as poor since I only earned $8k in the year.....

Casey
( you can make statisticts mean anything you want)

No, because you would earn dividends on the $10 million which would classify as income.

Moreover, not all income level data is income based.

Originally posted by thumpcbd
Its also importaint to note that the govt stats on poverity in this country are developed based on income earned in a year, without taking into account wealth.

According the the govt, if I only made 8k one year, *BUT* if I have a 10million in stock investments that I lived off of in additon to the 8k I made that year. I would still be classified as poor since I only earned $8k in the year.....

Casey
( you can make statisticts mean anything you want)

Well, if you lived off those invstments....

You would have additional income if you cashed out stock for more than what you paid for it.

If you simply spent interest - that would be income too.

etc etc etc


"Income" is not simply what an employer pays you

Originally posted by Adam D


Moreover, not all income level data is income based.

Adam?