Sunday, April 30, 2006
WHAT'S THE WORST THING ABOUT BEING POOR IN AMERICA?
The widening income gap is a frustrating problem to attend to fairly. But atleast we know being poor ain't so bad.
I took a look at the Department of Labor's Bureau of Labor Statistics reports for the past few years. Key points:
In general, income may have remained flat, but so have expenditures for all but the top earners. For the lower income earners, income has increased and expenses have decreased.
Transportation expenditures have declined for all but the top 40% earners (they spend more money on new cars as status symbols).
Health care expenditures have gone up significantly, but again only for the top 40% (Have health care cost gone up for basic services, or are we mostly spending more on the latest and greatest?)
All groups saw increases in entertainment expenditures.
All groups had a decline in spending on reading (just thought that was interesting).
Increases in tobacco and smoking spending in the lower end and decreases in the high end earners.
Decline in alcohol spending for lower 60%, big increase for the top 40%.
Food expenses have remained flat for all groups (slight decline).
thank you for allowing for me to comment