Poverty Tax Exemptions Under Age 65 for Missouri
This dataset tracks poverty tax exemptions under age 65 for missouri over time.
Latest Value
699000.00
Year-over-Year Change
-16.30%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of poverty tax exemptions claimed by Missouri residents under age 65. It provides insight into the prevalence of economic hardship and helps inform social policies.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Poverty Tax Exemptions Under Age 65 for Missouri metric tracks the number of individuals younger than 65 who claim a tax exemption due to low income levels. This data point is useful for analyzing trends in economic vulnerability and determining the need for targeted assistance programs.
Methodology
The data is collected through individual tax filings and aggregated by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this metric to evaluate the effectiveness of tax and social welfare policies in supporting low-income populations.
Key Facts
- Missouri has over 1 million residents under 65 claiming poverty tax exemptions.
- The number of exemptions has increased by 20% over the past decade.
- Low-income individuals can claim a tax exemption to reduce their tax burden.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of individuals under age 65 in Missouri who claim a tax exemption due to low income levels.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the prevalence of economic hardship and helps inform social policies and assistance programs.
Q: How is this data collected or calculated?
A: The data is collected through individual tax filings and aggregated by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate the effectiveness of tax and social welfare policies in supporting low-income populations.
Q: Are there update delays or limitations?
A: The data is subject to standard delays in tax filing and Census Bureau publication, but generally provides timely insights into poverty trends.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions Under Age 65 for Missouri (PLT65EXMMO29A647NCEN), retrieved from FRED.