The metric for extreme poverty usually refers to earning below $1.90 a day, accounting for inflation. It's great that more people are making more than that, but I think a planned economy (at least initially) could serve them better.

The real advantage of a planned economy can be seen in the case of the USSR or China where they rapidly grew from a backwards agrarian feudal base into industrial powerhouses in the highest growth rates of the 20th century. As economist Richard Wolff says, they are the envy of the third world.