Xmas Special:
48% of Americans are Poor or Low-Income;
48% of the US Tax Dollars Goes to the Military
A record 48 percent of Americans—146.4 million—have fallen into poverty or are scraping by on earnings that classify them as low income, an increase of 4 million people since 2009.
[NOTES: Under the new guidelines by Supplemental Poverty Measure for 2011, issued by the U.S. Census Bureau, about 48 percent of Americans, or 146.4 million people, are living in poverty or on low incomes, earning less than $44,700 for a family of four, an increase of 4 million people since 2009. The poverty level for a family of four was set at income below $23,500 per year. Over 49 million Americans (16 percent) fall below the poverty line.
Poverty v. ‘Power’
The 2012 United States federal budget is a staggering $2,847 billion, of which 48% ($1,372 billion) is allocated to the military. (Source)
[NOTES: The figure includes 30% or $869 billion for current military operations and 18% or $503 billion for past military disasters from Total Outlays of $2,847 billion in 2012 fiscal year. “The wars in Iraq and Afghanistan—not to mention the Pentagon’s voracious appetite for expensive weapons systems—have been a gold mine for the Big Five: Lockheed Martin, General Dynamics, Raytheon, Northrop-Grumman and Boeing.” ~ “From Pentagon, a Buy Rating on Contractors,” Joe Nocera, New York Times, Feb. 11, 2011]
Other Poverty Dividends
According to a new report by The National Center on Family Homelessness more than 1.6 million children are homeless annually in America. This represents an increase of 38% since 2007.
Most Americans (58.5%) will spend at least one year below the poverty line at some point in their lives between ages 25 and 75.