This, by the way, is what’s called a “myth.”
The Bureau of Labor Statistics’ March report is out, and the trends are telling. Before diving into the numbers, here’s a chart from the Atlantic showing some of the expenditures of the poor compared with the wealthy:

Anyone who’s been to the grocery story lately knows that first statistic isn’t surprising; it’s easy to burn through $300 dollars to feed a family of four, and that’s with coupons and smart shopping. The big three – food at home, utilities, and healthcare combined – are nothing compared to the cost of housing, which isn’t on the graph. Housing, according to the BLS, takes up a full 25% or more of the bottom 20%’s income. For the top 20%, it’s only 18% of their total income. In total, the lowest quintile spends around 60% of their budget on basic necessities to get by – food, housing, transportation. This spending trend also holds true for individuals living on public assistance – they spend almost 77% of their budget on the basics. The top 20%, meanwhile, spends only 45%.
There’s a devil in these details; according to the BLS, the amount of money the bottom quintile spent on food decreased from the years previous by almost 1.7%, rather than jumping nearly 7%, as was seen in the year before. It’s not because the bottom quintile collectively decided that they needed to diet, either; the demand is still there, and is up to 18% in 2012 from 17.8% in 2008. The truth, it seems, is that there just isn’t enough money in the budget for food – people cannot afford food.
And that, in a historical perspective, should have the wealthy sweating bullets.
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