week 5

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2010 Census Report

Araceli Garza

South University Online

2010 Census Report

· In 2010, 46.2 million people were in poverty, up from 43.6 million in 2009-the fourth consecutive annual increase in the number of people in poverty.

Since the 1970’s the average income has grown but the poverty rate has also “the increase in inequality has prevented the poorest families from sharing in this greater economic prosperity” (Mankiw, N.G., 2020). Monetary income is how poverty rate is calculated “In-Kind Transfers and Tax Credits” because this information on the income distribution and poverty rate depend on pre-tax incomes forgetting some of the tax credits that designed to assist the poor. “The Economic Life Cycle a young person that works and is in school is considered to be low income when their income increases they learn how to be responsible and have experience until reaching about 50 then soon after leading to retirement at age 65” (Mankiw, N.G., 2020).

· The number of people in poverty in 2010 (46.2 million) is the largest number in the 52 years for which poverty estimates have been published.

All classes are affected by poverty it’s an economic malady that will single out a population targeting a race as stated in the American society that blacks and Hispanics will most likely to be poor double the chance of that of a white person would be. Another factor of poverty is age children are affected by poverty since they have no control if they are born from a poor family and the elderly less plausible of being poor. A family’s composition can be affected by poverty single mothers who claim head of households are 5x’s probable to live in poverty then those families whose head is a married couple. These facts that were stated in the American society showing who is most likely to live in poverty (Mankiw, N.G. (2020).

· Between 2009 and 2010, the poverty rate increased for children under age 18 (from 20.7 percent to 22.0 percent) and people aged 18 to 64 (from 12.9 percent to 13.7 percent), but was not statistically different for people aged 65 and older (9.0 percent).

Since single mothers are a big part of the poverty situation and since TANF programs are on a rise because of this issue many criticize these types of programs claiming that these are reasons why poverty is so high. Critics of these programs argue that because of these programs are a to blame for the poverty and this is why the system was revised in 1996 that gives families a cut off time to stay on these government programs. In the US the Government has a goal for these programs as for Social Security and Medicare a universal service template is in place for seniors some of the social spending is design to help the poor.

References

Mankiw, N. G. (2020). Principles of Economics (9th ed.). Cengage. ISBN: 9780357133484.

Census.gov

The Research Supplemental Poverty Measure: 2010 (census.gov)