For a family of four that s. The us could end poverty.
The group of mostly men saw its wealth surge by 762 billion which is enough money to end extreme poverty seven times over according to oxfam.
How much money would it take to end poverty. The united states is spectacularly wealthy. In 2012 the number was 175 3 billion. The study used u s.
A little multiplication and addition later and the magic number pops out. This yearly amount is less than 1 percent of the combined income of the richest countries in the world and only four times the united states military budget for one year. This would be their contribution if they deliver 0 7 as promised.
That is how many dollars it would take to bring every person in the united states up to the poverty line. Matt bruenig at the american prospect did the calculations and determined it would take 173 5 billion to bring those americans just above the official poverty line. Census bureau data for 2015 to examine an estimated poverty level ubi of 12 000 per adult and 6 000 per child.
Widerquist s research also found that some 43 1 million people including 14 5 million children would benefit from this increased income reducing the poverty rate from 13 5 percent of the population to zero. In order for poverty to be ended in the next few decades the us needs to ramp up to about 75 billion per year in oda. What is the cost of ending global poverty according to mark anielski co founder of the canadian company genuine wealth it would cost 29 39 billion to bump the incomes of 5 64 billion people to just 10 a day.
This amount does not include individuals earning below 10 in developed countries. Jeffrey sachs as one of the world s leading experts on economic development and the fight against poverty stated that the cost to end poverty is 175 billion per year for 20 years. It would take 135 billion to eradicate global poverty this claim has been popping up on the web since at least february 2013 but the 5 5 million followers of wtf facts has to count as one of.