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
The Law Firm of Evan H. Farr, P.C.
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...
Felinton Elder Law & Estate Planning Centers
Mindy Felinton concentrates in the areas of Medicaid planning, Veterans' Benefits, asset protection, nursing home planning, elder law, wills, estate planning, trusts, living wills, powers of attorney, probate administration and trust administration and began her legal career 30 years ago as an Assistant State Attorney...
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...