The ‘How The Poor, Middle Class And Rich Spend Their Money’ offers a clearer picture into the spending norms of American people across all social classes.
Giving valuable insight into how budgets are affected by different incomes, this graph is revealing in a number of ways. First it is clear that households spend similar amounts on areas like housing and clothing. However, crucial differences lie in the budgets for education, retirement funding—areas in which the upper class spend considerably less of their money on. Comparatively, the lower class spend more of their income on health care, transportation, food and utilities.
Hopefully by understanding the plight of others, people will have more interest and for political issues like universal healthcare and graduated income taxing—especially with the 2012 election fast approaching.
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