The $140,000 ‘Poverty Line’ Is Laughably Wrong, So Why Does It Feel Right?

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The $140,000 ‘Poverty Line’ Is Laughably Wrong, So Why Does It Feel Right?

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.

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