Wall Street Strategist Proposes Higher U.S. Poverty Line

Many are unaware that the national poverty line formula, established in 1963 by economist Mollie Orshansky, is based on three times the USDA’s Thrifty Food Plan. This formula currently sets the poverty line at just over $32,000 annually for a family of four, a figure many consider low given today’s living costs. Recently, a Wall Street strategist analyzed the outdated formula and proposed a potentially surprising new poverty line.

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