This study, using American Community Survey 2010~14, shows that the poverty rate of US-born Asian Americans is lower than that of whites, which is opposite to previous research results. It is due to a rapid increase in Asian Americans born in the United States, while the poverty rate of first generation immigrants is still high. In contrast to the recent studies reporting that highly educated US-born Asian Americans are treated equally in the labor market as far as earnings are concerned, this study demonstrates that Asian Americans of lower education are more likely to be poor than the whites of the same level of education. The same result is obtained for each Asian ethnic group as well as for the entire Asian Americans. This is because the American society treats Asian Americans differently from the mainstream whites. Asian Americans of lower education are additionally disadvantaged due to belonging to a group holding a stereotype of “Model Minority.” The eradication of racial discrimination doesn’t seem to reach the Asian Americans of relatively lower status.