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The True Story of the Minimum-Wage Fight (Ep. 460) April 28, 2021 @ 11:00pm Listen now: Backers of a $15 federal wage say it’s a no-brainer if you want to fight poverty. Critics say it’s a blunt instrument that leads to job loss. Even the economists can’t agree! We talk to a bunch of them and a U.S. Senator to sort it out, and learn there’s a much bigger problem to worry about. Listen and subscribe to our podcast at
In the U.S., the official poverty threshold is $26,500 in annual income for a family of four. For a one-person household, it’s just under $13,000. In 2019, the official poverty rate in the U.S. was 10.5 percent, down from 11.8 percent just a year earlier. In fact, this was the fifth annual drop in a row, and the 2019 figure was the lowest on record since 1959, when the poverty rate was first measured. But once the 2020 numbers come in, those gains are due to be reversed. A pandemic will do that. A seri ....