cost of living / poverty rate

[wild deuce]

Does anyone know what the current poverty / cost of living rate is? Are you living above it? Do you know if you are living above or below these rates?

[JLKKLJ777]

According to the US census Bureau here are the guidleines for poverty in the USA;



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Size of Family Unit	Weighted Average Thresholds	Related children under 18 years
		None	One	Two	Three	Four	Five	Six	Seven	8 or more
One person (unrelated individual)	10,590
Under 65 years	10,787	10,787
65 years and over	9,944	9,944
Two people	13,540
Householder under 65 years	13,954	13,884	14,291
Householder 65 years and over	12,550	12,533	14,237
Three people	16,530	16,218	16,689	16,705
Four people	21,203	21,386	21,736	21,027	21,100
Five people	25,080	25,791	26,166	25,364	24,744	24,366
Six people	28,323	29,664	29,782	29,168	28,579	27,705	27,187
Seven people	32,233	34,132	34,345	33,610	33,098	32,144	31,031	29,810
Eight people	35,816	38,174	38,511	37,818	37,210	36,348	35,255	34,116	33,827
Nine people or more	42,739	45,921	46,143	45,529	45,014	44,168	43,004	41,952	41,691	40,085
Source: U.S. Census Bureau In my case I am no where near the poverty thresh hold. I run team with my wife and together we should earn about $120,000.00 this year with a household of 4 (I do have my sister living with us with her 2 children but I do not really count them as she is working and at least paying for her groceries even if she does not pay anything else). As for the cost of living this will vary based on the state you reside in. If you really want this information then you can go to; www.lib.umich.edu/govdocs/steccpi.html This is the University of Michigan website and that will give you comprehensive details you seek.

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[wild deuce]

Originally Posted by JLKKLJ777

According to the US census Bureau here are the guidleines for poverty in the USA;



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You certainly didn't waste anytime getting this info for us. I will go to the link you provided. Thankyou very kindly.

[bubba74]

together we should earn about $120,000.00 this year

Gosh, your rich

[JLKKLJ777]

Originally Posted by bubba74

Gosh, your rich

(sigh) Not even close to being rich my friend. According to Senator McCain I would have to earn 5 million per year or more to be considered "rich."

Kind of funny I actually consider myself lower middle class. Imo to be truly middle class it would take at least 250,000.00 to $500,000.00 and upper middle class would be $500,000.00 to 1 million. Anything over 1 million in earnings per year I would consider wealthy, while to be truly "rich" it would take at least 10 million in earnings per year.

No statistical figures to support my conclusions just an "opinion" for what its worth (going rate is .02 cents I believe lol).

[bubba74]

Not even close to being rich my friend. According to Senator McCain I would have to earn 5 million per year or more to be considered "rich."

yes, but according to BHO, you are rich because you make over $42,000 a year. In his plan, the Bush tax cuts would be eliminated, thus raising taxes on "the rich" Then, he would dole out cuts as he seems fit (mostly in the form of $1000 credits) Personally, your taxes on $120,000 went down about 8% or $9600, so you would be trading $9600 for $1000 (makes no sense to me either).

Back to rich, I figure $8,000,000 is the perfect number, not to much to become arrogant on but enough if invested at even 4% less capital gains taxes would put about $250K in my pocket without touching principal.

Just my opinion. Have a good day.