Wednesday, August 31, 2005

CensusReport:Alarming Consecutive Rise in Poverty

Census Report Press Release: The nation’s official poverty rate rose from 12.5 percent in 2003 to 12.7 percent in 2004. And the number of people with health insurance increased by 2.0 million to 245.3 million between 2003 and 2004, and the number without such coverage rose by 800,000 to 45.8 million. View the entire Census Report PDF here. The NY Times (Poverty Rate Rises to 12.7%) gets exactly what this report means: "Most of that growth in the economy over the last couple of years has gone to higher income people and has taken the form of capital income -- interest, rents, dividends." And The Center on Budget and Policy Priorities has put out its reaction (in PDF here) to the Census Report b/c they get it, too: "Despite the fact that 2004 represented the 3rd full year of economic recovery, the Census data released today show that poverty increased again last yr and median income failed to rise. Real median earnings of fulltime yr round male workers fell by nearly $1000 (from $41,761 to $40,798), a decline of 2.3 %, and for the 1st time since 1993- the % of people with employer-based health insurance coverage fell below 60%. If these figures aren't convincing enough, then you must take a look at the following PDF on poverty between 1959-2004. It shows the long decline in poverty from the days of JFK, through LBJ. Even Nixon didn't do too badly. But take a look at the numbers for 2000 thru 2004... nauseatingly horrible. Those wealthy tax cuts are working like gang busters, huh?
Posted by Tina :: 12:39 AM :: 0 Comments:

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