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Poverty is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living. It also means that the income level from employment is so low that basic human needs can’t be met. Poverty-stricken people and families might go without proper housing, clean water, healthy food, and medical attention. Each nation may have its own threshold that determines how many of its people are living in poverty.
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THE U.S. POVERTY:-
Each year, the Census Bureau updates its poverty threshold statistics. And the table below shows the 2018 income thresholds for those in poverty. Each column represents the number of people living in a household under the age of eighteen.
- In 2018, the poverty income threshold for a family of four with two children under the age of eighteen is $25,465 per year.
- In 2018, for two people over the age of 65 with no children under the age of eighteen, the poverty threshold comes in at $15,178 per year.
- We can see that the income level for the poverty threshold increases for families with more children under the age of eighteen.
The poverty thresholds, as well as the number of under-age children in a home. They are important because they help determine how government aid can be allocated. Such as food assistance and medical care. The measurement for those in poverty uses pretax income or income before taxes are taken out by the Internal Revenue Service.
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Poverty has decreased in developed countries since the industrial revolution. Increases production reduces the cost of goods, making them more affordable. Advancements in agriculture increase crop yields as well as food production. As of 2015, an estimated 736 million people live in extreme poverty. Which the World Bank defines as surviving on less than $1.90 per day. Of the total, roughly half lived in just five countries: India, Nigeria, Democratic Republic of Congo, Ethiopia, and Bangladesh.
Common traits for those living in extreme poverty include:
- Little or no education
- Under the age of eighteen
- Work in farming or agriculture
Poverty rates are important statistics to follow for global investors. Since high poverty rates are often indicative of more severe underlying problems within a country.
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POVERTY & CHILDREN
The impact that poverty has on children is substantial. Children who grow up in poverty typically suffer from severe and frequent health problems while infants born into poverty have an increased chance of low birth weight. Which can lead to physical and mental disabilities. In some impoverished countries, poverty-stricken infants are nine times more likely to die in their first month compared to babies born in high-income countries. Those who live may have hearing and vision problems.
As a result, children in poverty tend to miss more school due to sickness and endure more stress at home. Homelessness is particularly hard on children since they often have little to no access to healthcare and lack proper nutrition. Which often result in frequent health issues.
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FACTORS OF POVERTY
Access to good schools, healthcare, electricity, clean water, and other critical services remains elusive for many. And is often determined by socioeconomic status, gender, ethnicity, and geography. For those able to move out of poverty, progress is often temporary. Economic shocks, food insecurity, and climate change threaten their gains and may force them back into poverty.
Poverty is a difficult cycle to break and often passes from one generation to the next. Typical consequences of poverty include alcohol and substance abuse. Less access to education, poor housing, and living conditions, and increased levels of disease. Heightened poverty is likely to cause increased tensions in society, as inequality increases. These issues often lead to rising crime rates in communities affected by poverty.
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“Loneliness is the poverty of self; solitude is the richness of self.”– MAY SARTON
“Gratitude is riches. Complaint is poverty.”– DORIS DAY
“The real tragedy of the poor is the poverty of their aspirations.”– ADAM SMITH
“It’s pretty hard to tell what does bring happiness; poverty and wealth have both failed.”– KIN HUBBARD
“You can’t get rid of poverty by giving money.”– P. J. O’ROURKE
“Corruption is Africa’s greatest problem. Not lack of riches. Not racism.”– DENNIS PRAGER
“Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor.”– JAMES BALDWIN
“A quality education grants us the ability to fight the war on idnorance and poverty.”– CHARLES B. RANGEL
“Poverty is a very complicated issue, but feeding a child isn’t.”– JEFF BRIDGES
“As long as poverty, injustice and gross inequality persist in our world, noen of us can truly rest.”– NELSON MANDELA
“A wealth of information creates a poverty of attention.”– HERBERT A. SIMON
“Money is better than poverty, if only financial reasons.”– WOODY ALLEN
“Poverty is the worst form of violence.”– MAHATMA GANDHI
“Poverty was the greatest motivating factor in my life.”– JIMMY DEAN
“Lioneliness and the feeling of being unwanted is the most terrible poverty.”– MOTHER TERESA
“Poverty is not socialism. To be rich is glorious.”– DENG XIAOPING
“If poverty were a man, I would have slain him.”– ALI IBN ABI TALIB
“Some people think luxury is the opposite of poverty. It is not. It is the opposite of vulgarity.”– COCO CHANEL
“Poverty may be the mother of crime, but lack of good sense is the father.”– JEAN DE LA BRUYERE
“I think most art comes out of poverty and hard times.”– WILLIE NELSON
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