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Poverty and the Economy

Poverty and the Economy. 12/14/2009 11 days until Christmas 7 days of school left. What is Poverty?. Poverty - “ having insufficient income to provide the food, shelter and clothing needed to preserve health.” Poverty Threshold/line Dollar value – by gov

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Poverty and the Economy

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  1. Poverty and the Economy 12/14/2009 11 days until Christmas 7 days of school left

  2. What is Poverty? • Poverty - “having insufficient income to provide the food, shelter and clothing needed to preserve health.” • Poverty Threshold/line • Dollar value – by gov • Below which you can’t sustain life • Varies with family size • Poverty Rate – the % of people who live below poverty threshold

  3. Current Poverty Rates

  4. Poverty Rate Statistics • Poverty Rate differs by groups • Race – Minorities are more likely to live in poverty then whites • Hispanics - 30.6% • White – 10.6% • Asians – 13.33% • African Americans – 33.9% • Type of Family – Single mothers have highest pov. rate • Single Moms – 50% • Married 4.9% • Age – Children have highest poverty rates • Children under 18 – 19% • 65+ - 9.4% • Residence –Inner cities – highest poverty rates. • Detroit – 32.5%

  5. Causes of Poverty • Lack of Education • Location • Race and Gender discrimination • Whites earn more then minorities • Men earn more then women • Economic Shifts • Business Cycle • Shifts in Family Structure • Divorce Rates

  6. Combating Poverty • Welfare – good and bad • Family of 4 - $404 • Bridge Card (food stamps) • Gift cardesque • WIC – Women, Infant, Children • Infant needs • Employment Assistance • Enterprise Zones • Special areas with reduced taxes for x years

  7. Income Distribution

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