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The Truth About Poverty in America

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Rich Dad, Poor Dad

Nope, we are not going to talk about Robert T. Kiyosaki's book. We are going to talk about the rich dads. And the poor dads. And moms. And singles. And seniors. And kids… We are going to talk about the rich and poor Americans and what stays in between.

According to the newest data by US Census Bureau, the poverty rate in America in 2019 was 10.5% The good news, they say, is that this is the lowest estimate since 1959. The bad news though is that 34 million people in America still live in poverty! The number of people without health insurance rose from 25.6 million in 2018 to 27.5 million in 2019 (among them 4.3 million are children!). Another worrisome trend, for another consequent year, is that in 2019 the poverty rate for Black people was almost 3 times higher than the poverty rate for White, non-Hispanic people - e.g. 21% vs. 8%. As for the inequality, the richest top 20% of the households have received more than half of all income. Last, but not least women continued to earn 82 cents on the dollar earned by men.

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