A Boring Dystopia

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Why the real poverty line is $140,000, this strategist argues (www.marketwatch.com)

submitted 5 days ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] zod000@lemmy.dbzer0.com 1 points 4 days ago* (last edited 4 days ago)

Anyone who objects can stick it into an inflation calculator and compare to “back in my day”

Well, a big part of the article is that you can't just do that because the original formula was iffy even for the time when housing and insurance costs were not nearly as much of the average person's expenses. That part of the article (well at least the original article this was based from https://www.yesigiveafig.com/p/part-1-my-life-is-a-lie) that was so interesting was that it was originally based on about 3x times the minimum food budget. Apparently that was just an easier number to be able to quantify at the time in the 60s and they just kept using it.