A healthy 55-year-old man can expect to pay $925 annually for $164,000 in current long-term care insurance benefits, accordin...Read more
Ranks of Poor Swelled Last Year
- September 26th, 2002
The percentage of Americans living in poverty rose significantly last year, registering the first increase in nearly a decade, according to the Census Bureau's annual report on income and poverty. At the same time, the income of middle-class households fell for the first time since 1991. The findings are evidence that the recession that began in March 2001 has affected large segments of the population.
The Census Bureau said the number of poor Americans swelled to 32.9 million in 2001, an increase of 1.3 million, while the proportion living in poverty climbed to 11.7 percent, from 11.3 percent in 2000. The poverty rate for families rose to 9.2 percent, from a 26-year low of 8.7 percent in 2000.
The gap between rich and poor continues to grow, the report suggested. While average income for the top 5 percent of households rose by $1,000 last year, to $260,464, the average declined or stayed about the same for most other income brackets.
For a New York Times article on the Census Bureau report, click here. Free registration on the site is required.
Local Elder Law Attorneys in Ashburn, VA
Needham Mitnick & Pollack, PLC
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Margaret A. O'Reilly, PC
Margaret A. O’Reilly is an estate planning and elder law attorney with over thirty-five years of legal experience. Attorney O’Reilly graduated from Duke University with a degree in psychology, and received her law degree from Northeastern University School of Law in Boston, Massachusetts. For over 15 y...