Monday, October 24, 2011
That's the latest based on payroll taxes reported to the Social Security Administration. To read a complete analysis of the data click here.
CityWalk, our Downtown affordable housing development here in Dallas, uses "means testing" to qualify residents according to tax credit rules that are tied to a major source of the funding used to convert the old office building to homes. Under these rules a tenant is allowed to earn approximately $27,000 annually. Anyone earning more than that ceiling cannot live in the building.
So, over 1/2 of all working Americans are eligible to occupy one of our apartments! Most people regard the building as "affordable housing" for low-income persons and families.
This fact illustrates something about the reality and pervasiveness of poverty in our country. It also forces some questions on us about our attitudes toward "the poor" in our society, don't you think?