Overview
- The official U.S. poverty threshold for a family of four is about $32,150, a figure rooted in a 1960s formula that tripled a minimal food budget.
- Investor Michael Green argues an updated floor near $140,000 better reflects modern housing, healthcare, childcare, and transportation costs, and he warns of a benefits “Valley of Death” as aid phases out with higher earnings.
- Economists and commentators challenge his calculation, with critiques calling the analysis based on bad assumptions and Noah Smith labeling the proposed line “very silly.”
- Green notes his estimate is drawn from suburban New Jersey costs, and reporting says it exceeds median family incomes in 37 states, though living‑wage research shows some regions require six‑figure incomes.
- Surveys and behavior point to broader strain, with a Harris Poll finding 64% of six‑figure earners feel their pay is just enough to stay afloat and discount retailers reporting more higher‑income shoppers.