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Topic: How much do you need?
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Proaxiom
rabble-rouser
Babbler # 6188
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posted 15 September 2006 04:27 PM
quote:
Originally posted by Martha (but not Stewart):
When I saw the figure in chester's post of $23,000 to $28,000, I was shocked at how high it was. But then I read the linked document, I came to the conclusion (unless I am missing something) that these figures are for a family (of four?), not for a single individual.
It's the required income to support a family of four: 2 adults, a 13-year-old boy, and a 9-year-old girl. It's a much better measure of poverty because, unlike LICOs and LIM, it is not relative to other people's incomes. With the latter measures, if I get a good raise (being middle class), I increase the poverty level in Canada, even if low-income people are getting raises to cover increased cost of living.
From: East of the Sun, West of the Moon | Registered: Jun 2004
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Fidel
rabble-rouser
Babbler # 5594
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posted 15 September 2006 07:28 PM
 Notes: This table uses the 1992 base. Income refers to total pre-tax household income. *Includes cities with a population between 15,000 and 30,000 and small urban areas (under 15,000). Source: Prepared by the Canadian Council on Social Development using Statistics Canada's Low Income Cut-Offs, from Low income cut-offs for 2005 and low income measures for 2004 Catalogue # 75F0002MIE. Reading this table
Example: A family of four living in a very large Canadian city with a before-tax income of less than $38,610 in 2005 would have been living below the poverty line. CCSD [ 15 September 2006: Message edited by: Fidel ]
From: Viva La Revolución | Registered: Apr 2004
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Fidel
rabble-rouser
Babbler # 5594
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posted 16 September 2006 09:13 AM
quote:
Originally posted by Proaxiom:
It's the required income to support a family of four: 2 adults, a 13-year-old boy, and a 9-year-old girl.
If tax rate was 15 percent(lowest bracket), all of those incomes in the LICOS cutoff table are more generous than 23K-28K net disposable. Of course, that doesn't include a tax rebate with dependents. A more conservative estimate: 28000 / 9 = 3111.11 (lower income tax bracket ie. 10%)
28000 + (3111/2) = $29555 (ie. after 5% rebate) Still, I think the LICOS cutoffs in the table above would be more generous than the $28K net income with MBM. quote:
It's a much better measure of poverty because, unlike LICOs and LIM, it is not relative to other people's incomes.
What if it were a 13 year old boy and a 15 year old girl? They'll definitely need an extra bedroom. I think all poverty measures are relative. All poverty measures are arbitrary. And some are better than others, yes. I don't know why the CCSD is still using LICOS versus using MBM, but it looks to me as if LICOS cutoffs in those tables describe higher thresholds for poverty and trying to take into account where in Canada the cost of living is being measured. With a MBM, how do they know how much toilet paper a family of four will use in a week?. How do they know the family of four is renting and not paying on a mortgage?. How do they know the family's apartment is well insulated or what they're actually paying a particular slumlord each month to live in his firetrap ?. [ 16 September 2006: Message edited by: Fidel ]
From: Viva La Revolución | Registered: Apr 2004
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