Pov
Poverty Line Calculation
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Accuracy
Recent Predictions
Incorrect: 6
Pending: 1
Unrated: 1
Prediction
Author
Predicted at
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Video
The US poverty line is determined by multiplying the cost of a 1963 minimum food diet by three and adjusting for inflation.
"The United States poverty line is calculated as three times the cost of a minimum food diet in 1963 ..."
Dec 16, 2025
Correct
The current US poverty line is calculated using a formula based on 1963 food costs.
"The poverty line is three times the cost of food based off of 1963 prices."
Dec 16, 2025
Unrated
The estimated poverty line for an average American household is closer to $140,000 per year, based on current spending on essentials.
"Instead, it would be closer to $140,000."
Dec 15, 2025
Incorrect
Applying the original poverty line methodology but with today's spending ratios for essentials would result in a poverty line closer to $140,000, not the official $31,000.
"And what that has done is it has created the illusion that poverty has barely grown. But Michael Gre..."
Dec 15, 2025
Incorrect
The modern-day poverty line for a family of four, accounting for essential costs like housing, childcare, transportation, and food, plus taxes, is estimated to be around $136,500 gross income in 2024.
"And once you add up conservative national average numbers for those categories, the way that Michael..."
Dec 15, 2025
Incorrect
In 1963, the poverty line was approximately $3,000 per year.
"So, if you made less than $3,000 in 1963, that meant you were at the poverty line. And that's what a..."
Dec 15, 2025
Correct
Using rent as the essential item and applying the original multiplier of three, the poverty line would be $72,000 per year.
"So, let's say you pay the national average of $2,000 a month for your rent. That's $24,000 a year. M..."
Dec 15, 2025
Incorrect
If food constitutes 10% of a budget, and the multiplier is 10 (meaning the total budget is 10 times the food cost), then an income of $100,000 would be needed to be above the poverty line.
"So, for example, let's say you spend $10,000 a year on food. And food happens to be 10% of your year..."
Dec 15, 2025
Incorrect
The $140,000 poverty line calculation is based solely on modest housing, basic healthcare, and minimal childcare for two-earner households, excluding any luxuries.
"The calculation includes three things. Modest housing, basic health care, and bare minimum child car..."
Dec 15, 2025
Incorrect