Chart Of The Day: Americans At Or Below 125% Of The Poverty Level

Tyler Durden's picture

From AP: "the number of Americans with incomes at or below 125 percent of the federal poverty level - the income limit for qualifying for legal aid - is expected to reach an all-time high of 66 million this year. A family of four earning 125 percent of the federal poverty level makes about $28,800 a year, government figures show." And visually...

As usual, if anyone expects these 66 million Americans (over 20% of the US population) to vote for someone who dares to even think about taking away any of the entitlements said tens of millions of people are used to, then by all means buy Las Vegas real estate.

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vbone's picture

another bullish chart bro?

Pooper Popper's picture

Am I the only one who sees purple cows?

MOOOOOOOOOO!

AlphaDawg's picture

Shit one, I guess we all dont give a fuck till it hits us personally.

When we are eating dog food we will start to take action.

By that time it'll probably be too late.

Time for a drink

AlphaDawg's picture

Aristotle: At a certain point, money is meaningless. It ceases to be the goal. It is the game what counts.

zaphod's picture

Whatever, I have a good paying job with solid prospects, work hard, etc. But I don't have an iPhone or even A/C at home.

Most of these "poor" people have both iPhones and A/C however, so they're not really poor...

Lost My Shorts's picture

Both you and the main post are being dumb.  Have you heard it said that "the middle class is being destroyed"?  It's said on ZH at least three times a day, and everyone says yup, amen.  Where do you think those former middle class people are going?  Are they being vaporized?

No, of course not.  They are landing in the chart above, shifting from middle class to poor.  (Where else?)  Most of the increase are people who formerly had middle class jobs, and now have Mitt Romney jobs like working as clerks at staples for $8-something an hour.  Or families who formerly held on to the lower rung of the middle class by having two incomes, but now one of them is terminally unemployed.  Very few of them have iPhones, and most (of the new dwellers in that chart) don't have long histories of entitlement dependence.  They all have A/C, but can't pay the electric bill, and buy food, and make rent, and get the kid's aching tooth pulled all at in the same month.

They are the former middle class.  How hard is that?

Irony is, many will vote for Romney thinking he will get them back in the middle class.  Mitt, who is so proud of all the jobs he creted at Staples.  Maybe he will double the pay of Staples clerks.  Ya think?

Old Poor Richard's picture

Except you're forgetting that these people become ELIGIBLE FOR AID at this level at below, meaning that Zimbabwe Ben's printed dough goes straight into their pockets.  They really are Welfare Queens, it's not a myth of Reaganism.  They really do have iPhones and HDTVs and xBoxes and cars and cable and whatever the hell they want from Uncle Sugar. 

My wife and I are the middle class.  We haven't lost our jobs (yet).  Make 6 figures (barely) gross.  Pay almost 40% of our take-home in rent.  We have two TVs in the house, an 18 year old JVC 32" tube, and a 25 year old 11" tv/vcr combo.  My cell phone is provided by work, my wifes is an antique LG that used to take crappy pictures before the camera stopped working.  Camcorder bought used on ebay.  No video games in this house.  Our iPad was won at a company party.  One car bought in '09 and one motorcycle bought in '97.

We work our asses off, have essentially no disposable income, credit card debt that we can't seem to pay down, practically no electronic toys, scared that our 401k's will be corzined. 

Kugman and Bernanke like to claim that printing stimulates the economy, which of course it does not.  Krugman/Bernanke haters like to claim that printing is zero sum and therefore dumb and useless, but it's not that either.  Printing is transfer of wealth towards those who benefit from the printing, and out of the pockets (by means of dilution) of those who don't collect federal checks.  Beneficiaries of the printing include banksters, military industrial complex, baby boomers, junkies, dropouts, illegals--everybody BUT the middle class.  The middle class has no solidarity with handout recipients; socialism for the poor is just as insane and wrongful as socialism for the rich.

Ron Paul is our only hope.  He will hack away at federal spending and end the printing because they are NOT THE PROPER ROLE of the federal government.  Doesn't matter the impact, doesn't matter the affordability.  When something's wrong you're supposed to quit doing it no matter how popular it is.

AldousHuxley's picture

American are god damn stupid.....living on poverty level and still voting....

 

poverty level living standards requires hard actions.

 

Americans = loud mouth, fat girth, big truck and guns but no balls

 

nmewn's picture

"Americans = loud mouth, fat girth, big truck and guns but no balls"

And you are what...where exactly do you sleep at night?

AldousHuxley's picture

I'm what the elites call "UNAMERICAN" for having values that oppose current corrupt regime.

Heck, they may go all stalin on me and call me a terrorist to be put in labor camps.

 

 

 

 

nmewn's picture

No, I asked you where you slept at night. I'm a little sick and tired of AnAnus types sticking their nose up my ass.

Where do you live...what country?

 

LetThemEatRand's picture

I'm pretty sure his mother is a semi-colon, and his father is a parenthesis.  

nmewn's picture

Did you want to defend this idiot inciting violence from afar here or are you more enamored with my style of expression?

AldousHuxley's picture

go self-immolate yourself.

 

pentagon, whitehouse, wall st. Koch brother's house, take your pick.

nmewn's picture

ROTFL!!!

So now we're getting down to it...you don't want everyone to die for your cause, including yourself, in a distant un-named country...just me.

How refreshing ;-)

AldousHuxley's picture

I have no cause except use defense for defense not imperialism....usually it backfires on generations down the road.

Iran is an old persian empire....borders change, but people who live there live there and more wars breed more sons who will seek revenge.

 

killing in the name of......

 

 

LetThemEatRand's picture

Not taking sides.  Simply enamored with your style of expression.  

AldousHuxley's picture

Ayan Rand lived on social security you idiots.

 

Tea party fuckers are the worst socialist hypocrits living on government welfare.

LetThemEatRand's picture

You're certainly not going to see me defending Ayn Rand or anyone who worships at her altar of obselfishism.

malikai's picture

What's with all the labels? Did someone strike a nerve with you?

nmewn's picture

Ayan Rand?...Tea Party?...socialists?

Glad you got Big Daddy's American Balls out of your throat before you choked on em...lol.

Pants McPants's picture

Ayn Rand was also taxed throughout her life.

Now, if you knew a little bit more about Rand and called her a hypocrite based upon her philosophy and the odd behavior of the Ayn Rand cult, well, you'd likely get more traction.

Disclosure: I liked Rand's stories, but her philosophy is shit.

 

nmewn's picture

So, your not going to answer a simple question?

Sounds like you're choking on Daddy's Big American Balls in mama's bed bozo...and he's not very impressed.

Bay of Pigs's picture

AL, that kind of shit is uncalled for. 

Seriously, what's with the internet tough guy approach?

ZeroAvatar's picture

Agreed.  Time to treat like Robotarder, MDB, etc:  See post, downvote, scroll down.  Don't Read.

 

Haven't seen the tarder for awhile.  How refreshing.  It's hard enough trying to decipher most of the posts here as it is, without people (or TROLLS) PURPOSELY trying to hijack the thread or spew idiotic bullshit.  (I've been guilty, I know).

Imminent Crucible's picture

AldousGore is one of those boils that just can't get comfortable until he squeezes some pus out on someone.

nmewn's picture

Well, I hope he's happy, whatever country he's in, with my big American balls slapping him in the chin.

I know I am ;-)

AlphaDawg's picture

every nation is intelligent, until it isnt. You were smart, until you werent. Gimp boy

Monedas's picture

American poverty is in a class by itself !     Remember, the welfare check is just walking around money .... all of life's necessities are covered separately !     

LMAOLORI's picture

 

 

One more time for those who missed this

Income Inequality Worse Under Obama Than George W. Bush

http://www.huffingtonpost.com/2012/04/11/income-inequality-obama-bush_n_1419008.html

Conrad Murray's picture

Doin a heckuva job Brownie.

Welcome to the machine. Americans sold their liberty for the illusion of security and now have neither. Drool-stained debt slaves walking around in a haze of ignorance and complacency. Can't spell apathetic without pathetic.

End the Fed. End the State.

LetThemEatRand's picture

Of course it did.  You don't believe that shit that Obama is a liberal marxist who gives a rat's ass about anyone but the oligarchs, do you?  Makes for good radio, though.  

nmewn's picture

"You don't believe that shit that Obama is a liberal marxist who gives a rat's ass about anyone but the oligarchs, do you?"

And yet you voted for him.

LetThemEatRand's picture

I did indeed.  I was fooled (or at least I let myself believe there was a chance that he was for real on his promises of rolling back the Patriot Act and other police state apparatus which has only gotten worse under his Presidency), which is one of the reasons I now spend too many hours on ZH trying to unfool others.  

fonzannoon's picture

I was at a birthday party Friday for a friends kid. The parents (all between 32-38) were sitting around. The election came up. About 17 out of 20 of us admitted to voting for Obama and getting fooled. I was in the 3 that did not vote. I was amazed by how many people got duped, and admitted it.

LetThemEatRand's picture

After 8 years of Bush and Cheney turning the country into a giant surveillance state, I would have voted for anyone who claimed to be against it.  McCain didn't even pretend that he was against it, so it was a no-brainer to take a flier on the O.   I thought maybe he slipped through the cracks of the machine and that they really wanted Hillary, but in fact he merely proves that the machine is pretty damn efficient.  I expect I will never vote Democrat or Republican (I've cast for both) again.  Ever.

P.S.  It is encouraging that many of your friends realize they were fooled.  That's something.

Totentänzerlied's picture

Where exactly were you in the previous 20 years while the foundations for Bush II were being laid???

LetThemEatRand's picture

Living comfortably in the Matrix eating my steak.  But I did vote for Perot so I've got that going for me.

nmewn's picture

I give extra credit for honesty, we'll need it going forward ;-)

fonzannoon's picture

This was a pretty diverse group too. Teachers, a few bankers even. The key here is not that they probably won't vote this time. It's that they are all making a living. Bring up the economy and they shrug their shoulders. Bring up the dollar and they roll their eyes. Bring up the debt and they wave their hand in the air and walk away.

We have a long way to go.

One of them went to a "college advisor" who told them they need to save 217k for their 2 yr old so they can pay for a SUNY school. They did not fall over in laughter. They are really going to try to save it.

nmewn's picture

I've had simliar discussions...all middle class...they used to look at me like I was insane when I said save in G&S and spend in fiat.

Now, not so much...no matter who is elected. Its just prudent.

I don't know how they're ever gonna get the peoples trust back...and honestly, after all thats transpired, I don't care if they ever do.

It would be healthier for all.