The $140,000 ‘Poverty Line’ Is Laughably Wrong, So Why Does It Feel Right?
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TL;DR
- Michael Green claimed the US poverty line for a family of four should be $140,000, not $31,200.
- Green's analysis suggested a majority of American families fall below his proposed poverty line.
- Economists including Scott Winship, Jeremy Horpedahl, Tyler Cowen, Noah Smith, and Eric Boehm refuted Green's findings.
- Critics argued Green significantly understated American incomes and wealth.
- Jeremy Horpedahl stated that Green's median income figure excluded single people and retirees.
- The actual median income for married couples with children was reported as $132,959, and for two-earner families, $142,200.