About 97.3 million Americans fall into a low-income category, commonly defined as those earning between 100 and 199 percent of the poverty level, based on a new supplemental measure by the Census Bureau that is designed to provide a fuller picture of poverty. Together with the 49.1 million who fall below the poverty line and are counted as poor, they number 146.4 million, or 48 percent of the U.S. population. That's up by 4 million from 2009, the earliest numbers for the newly developed poverty measure.As Atrios says:
We're basically in an extraction economy right now, where the real money is in finding points to siphon off all of the income that people generate. Unregulated utility monopolies, rapacious health insurance companies and the medical industry generally, and of course Big Finance, are all devoted to increasing the slice of your life that they can steal from you, fair and square.We're witnessing the return of the robber barons.