Want to be rich?

The most recent Census Bureau data … sorts households by income quintile … the highest quintile are “rich” households and the lowest quintile are “poor” households.

A fundamental conclusion drawn from the data: if you want to be rich, it helps to have a job and be married to someone who has one, too.

image .

Let’s dive into some of the details …

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According to an analysis of census data done by economist Steven Moore

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Only 1 in 20 poor households have two wage earners.

6 out of 10 poor households have no one working at all

On average, there’s less than 1/2 of a worker in a poor household … 4/10ths to be precise.

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75% of rich households have 2 or more workers.

The average rich household has an average of almost exactly 2 full-time workers.

Think, husband and wife.

Married couples are almost five times more likely to be in the highest income quintile than in the lowest quintile.

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Bottom line: The best anti-poverty program is getting a job and getting (and staying) married …

Shocking, isn’t it?

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#HomaFiles

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2 Responses to “Want to be rich?”

  1. Mike Walker Says:

    “The best anti-poverty program is getting a job and getting (and staying) married” — wait a sec. We can agree that these things are correlated, but it’s not clear that one actually causes the other.

  2. Greg Says:

    When in doubt, correlation equals causation.

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