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Saturday, April 28, 2012

"More Americans Find Aging is a Gateway to Poverty"

Evidence that our social insurance system needs to be shored up:

More Americans find aging is a gateway to poverty, by Ellen Freilich: Over the last several years, more Americans have found that aging has left them in the clutch of poverty. Between 2005 and 2009, the rate of poverty among American seniors rose as they aged, as did the number of people entering poverty, according to a new report from the nonpartisan Employee Benefit Research Institute (EBRI).
Poverty rates fell in the first half of the last decade for almost all age groups of older Americans (defined as age 50 or older) but increased since 2005 for every age group. ...
Poverty rates, as defined by U.S. Census poverty thresholds, were highest for the oldest of the elderly. Almost 15 percent of Americans older than age 85 were in poverty in 2009... Additionally, in 2009, 6 percent of those age 85 or older were new entrants in poverty. ...
Poverty rates for women were nearly double that of men... The EBRI report found that in 2009, the poverty rate for Hispanics was 21 percentage points higher than for whites. For blacks it was 17 percentage points higher than for whites. ...

    Posted by on Saturday, April 28, 2012 at 09:25 AM in Economics, Income Distribution, Social Insurance | Permalink  Comments (11)

          


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