Source: NY Times
Twenty percent of people living in California live in poverty, making California one of the most impoverished places in America, according to data from the U.S. Census Bureau.
There are approximately 8 million people in California living in poverty who meet the “supplemental poverty” rate, a measure created by the Census Bureau that takes into account differences in benefits and costs in rent across the U.S.
A combination of high rent and high taxes are the greatest obstacles faced by Californians living in poverty. Yet, California has the most billionaires in the world, right after China…and often times, these two economic opposites are near each other. For example, in 2014 the per capita income in Palo Alto was approximately $75,000 compared to its neighbor, East Palo Alto’s per capita of $18,000.
Read full story at: NY Times