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Near Poverty
Near poverty is the state of living on an income marginally above the poverty line, defined by the U.S. Census Bureau The United States Census Bureau (USCB), officially the Bureau of the Census, is a principal agency of the U.S. Federal Statistical System, responsible for producing data about the American people and economy. The Census Bureau is part of the ... as a household with an income "between 100 percent and 125 percent of the poverty line". The classification was first studied by the U.S. Census in a 2014 report that showed the number of people living just above the poverty line had decreased since the 1960s, believed to be due to an increase in the number of people who have fallen beneath the poverty line. Children are particularly at risk of poverty and near-poverty. About thirty per cent of adults (18-64 years old) live in near-poverty, compared to 44 percent of children under 18 years of age. References {{reflist Poverty in the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (e.g., mandatory pension contributions), and is widely used as a basis to co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty Line
The poverty threshold, poverty limit, poverty line or breadline is the minimum level of income deemed adequate in a particular country. The poverty line is usually calculated by estimating the total cost of one year's worth of necessities for the average adult.Poverty Lines – Martin Ravallion, in The New Palgrave Dictionary of Economics, 2nd Edition, London: Palgrave Macmillan The cost of housing, such as the rent for an apartment, usually makes up the largest proportion of this estimate, so economists track the real estate market and other housing cost indicators as a major influence on the poverty line. Individual factors are often used to account for various circumstances, such as whether one is a parent, elderly, a child, married, etc. The poverty threshold may be adjusted annually. In practice, like the definition of poverty, the official or common understanding of the poverty line is significantly higher in developed countries than in developing countries. In October 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
