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$140,000 poverty line in a RIGGED economy | Mike Green, Simplify Asset Management

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Jan 8, 2026

Guest

Mike Green

Mike Green, Chief Investment Officer of Simplify Asset Management, challenges traditional notions of poverty, claiming the real poverty line is close to $140,000. He critiques the outdated formula used to calculate it and discusses the generational divide in perceiving financial struggles. Mike highlights issues such as benefit cliffs, rising costs for young families, and how modern capitalism perpetuates inequality. He advocates for policy changes like expanding the Earned Income Tax Credit to empower individuals and stimulate affordability.

45:34

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insights

INSIGHT

Official Poverty Stats Mask Precarity

Supplemental poverty measures show very few households in crisis after benefits, yet many households lack emergency savings.
That gap signals widespread precarity despite low official poverty rates.

insights

INSIGHT

Costs Vary By City

Local cost matters: Essex County, NJ yields roughly $140k for a two-income family, while Lynchburg, VA is near $95k.
National averages obscure large regional affordability differences.

insights

INSIGHT

CPI Masks Unequal Inflation

CPI hedonic adjustments and new-product inclusion bias inflation measures toward wealthy consumption.
Lower-income households often face higher effective inflation than headline CPI indicates.

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Why the official poverty line is out of date

01:10 • 3min

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Benefit cliffs and the 'valley of death'

03:42 • 2min

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How life transitions raise costs for young families

05:48 • 2min

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Generational perceptions of affordability

07:29 • 3min

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Criticisms from academics and his response

10:41 • 2min

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Differential inflation and lived experience

12:47 • 4min

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Precarity vs. poverty: defining participation

17:04 • 2min

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Ghost households and fertility decline

19:13 • 1min

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Why median two-income stats can mislead

20:38 • 53sec

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Policy: cash vs directed subsidies

21:31 • 3min

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Why market signals beat central planning

24:46 • 2min

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Behavioral critiques and trust in people

26:52 • 2min

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Time, ergodicity, and household formation

29:20 • 4min

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Supply-side fixes: permitting and housing costs

Optimistic solutions for demographic recovery

35:25 • 4min

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Youth pessimism and political shifts

39:20 • 3min

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How capitalism now entrenches inequality

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Mike Green is the CIO of Simplify Asset Management. He joined Phil Rosen to discuss his viral and divisive essay asserting that the US poverty line is closer to $140,000 than the government stated $32,000. They discussed solutions to the affordability crisis, why Gen Z and boomers disagree on cost of living, criticisms from the right and the left, and much more.

This episode is sponsored by Public: https://public.com/openingbell

Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe

Follow Phil on X: https://x.com/philrosenn

Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/

Timestamps:

0:00 - Redefining poverty0:50 - Real poverty line math5:28 - Generational debate10:07 - Ivory Tower critics15:57 - Public & Generated Assets17:05 - Not being rich vs. being poor19:09 - Collapsing birthrates21:27 - Government policy23:30 - Tax credits and inflation24:45 - Right vs. left26:54 - Meritocracy flaws29:15 - New solutions35:25 - How this all ends39:18 - Socialism rising44:42 - Follow Mike

Disclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

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