If poverty means struggling to live in a house that is beyond one’s means, not driving a current model car, not being able to comfortably eat out often, not being able take resort vacations a couple of times a year then Biden is probably correct.
The income level for a family of 4 to be considered in “poverty is $25,750.
200% of that would be a yearly income of $51,500.
I have 2 kids in college presently bringing in about 50K and I am far from poverty.
We watch our spending, bought a used Cadillac SRX 10 years ago and still own it. Live on a lake with beautiful house paid off.