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Where AmericansóRich and PooróSpent Every Dollar in 2012
The Atlantic ^ | 09/16/2013 | Derek Thompson

Posted on 09/17/2013 10:42:49 AM PDT by Responsibility2nd

Here it is, fresh from the Bureau of Labor Statistics: all of American spending in one big color wheel.

~snip~

For the poor, food, clothes, and housing account for more than 60 percent of all spending. The rich have more left over for leisure, insurance, and savings.

(Excerpt) Read more at theatlantic.com ...


TOPICS: Business/Economy; Miscellaneous
KEYWORDS: economics
More info at the link.
1 posted on 09/17/2013 10:42:49 AM PDT by Responsibility2nd
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To: Responsibility2nd

I don’t see ‘PORN’ listed................


2 posted on 09/17/2013 10:44:04 AM PDT by Red Badger (It is dangerous to be right in matters where established men are wrong. .....Voltaire)
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To: Responsibility2nd

where’s taxes?


3 posted on 09/17/2013 10:46:08 AM PDT by camle (keep an open mind and someone will fill it full of something for you)
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To: Red Badger

You silly goose! That’s under entertainment. And “massage parlors” would be under health care.


4 posted on 09/17/2013 10:46:13 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Red Badger

I don’t see ‘P**N’ listed...


That’s because it’s free.


5 posted on 09/17/2013 10:46:49 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Vigilanteman

Yeah, ‘Entertainment’....That’s what it is!........I wonder if Obozocare will cover massage parlors......strictly for medicinal reasons, you understand..............


6 posted on 09/17/2013 10:47:44 AM PDT by Red Badger (It is dangerous to be right in matters where established men are wrong. .....Voltaire)
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To: camle

where’s taxes?


They were hoping you didn’t notice. I believe that over the last decade or so, that has been where most of the spending increase for the average family has been.


7 posted on 09/17/2013 10:47:51 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Red Badger

or bling.


8 posted on 09/17/2013 10:48:01 AM PDT by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: Responsibility2nd

The one main expense that I do not see is Taxes. Maybe they just forgot to include that. /sarc


9 posted on 09/17/2013 10:48:09 AM PDT by kempster
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To: cuban leaf

Free Pr0n? On the Interwebs?............I’m shocked!........


10 posted on 09/17/2013 10:49:30 AM PDT by Red Badger (It is dangerous to be right in matters where established men are wrong. .....Voltaire)
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To: Red Badger
If all those debit cards handed out in New Orleans after Katrina were any indication, medicinal massage parlors will thrive.

After all, they provide a natural cure to what Viagra does artificially . . .

11 posted on 09/17/2013 10:51:24 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: kempster

This is all “after-taxes” spending. The money you pay in taxes was never yours, how could it be considered spending? It was confiscated, not “spent” of your own free will.

That statistic would confuse the peasants anyway.


12 posted on 09/17/2013 10:52:08 AM PDT by Tenacious 1 (Waiting for next tagline.)
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To: Vigilanteman

It’s always best to go natural if you can.............


13 posted on 09/17/2013 10:52:25 AM PDT by Red Badger (It is dangerous to be right in matters where established men are wrong. .....Voltaire)
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To: Red Badger

Frankly, if safe search is off, it’s hard not to come across it in bing, be it pictures or video. I assume it’s all laced with viruses.


14 posted on 09/17/2013 10:52:53 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Responsibility2nd
Outside of taxes, nothing too surprising here. Of note, Americans spend about 13% of their income on food. This is probably among the lowest, if not the lowest, percentage of income of any nation on the planet.

Second, and of interest, is that the wealthy spend a lot more on insurance as they must protect the greater amount that they have. Also, the wealthy spend more on entertainment because I presume they both have the resources for more exotic type of entertainment experiences and they likely have far more leisure time than the common working stiff.

15 posted on 09/17/2013 10:53:22 AM PDT by Obadiah (I Like Ted.)
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To: Red Badger

Free Pr0n? On the Interwebs?............I’m shocked!........


Frankly, if safe search is off, it’s hard not to come across it in bing, be it pictures or video.

I assume it’s all laced with viruses, just like the real thing.


16 posted on 09/17/2013 10:53:33 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: kempster; camle

Good catch to all you caught the ommission of taxes.

And to all who question “Where’s porn?” - lolol Typical Freepers.


17 posted on 09/17/2013 10:54:08 AM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
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To: Responsibility2nd

A few years back we were spending 10% on food...but there is no inflation.


18 posted on 09/17/2013 10:55:26 AM PDT by tiki
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To: Responsibility2nd

Insurance + Healthcare = 18% of the Economy 0bamaCare Socialized.

Note that the bottom quintile spent much less, because they were already subsidized in Medicaid (a payment in kind, not a spending), and didn’t have to spend much of anything on Insurance.

So, the books here are cooked to exclude taxes (as noted by everybody) and also to exclude welfare programs’ spending on behalf of the bottom quintile.

In reality, the bottom quintile are fat, dumb, and drugged up.


19 posted on 09/17/2013 10:55:31 AM PDT by Uncle Miltie (Why haven't we heard from the 30 Benghazi survivors?)
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To: Responsibility2nd

Way back in the grainy black and white days of my 1964 birth, it cost about one and a half week’s pay for my dad to pay for my hospital birth and he was a garbageman.

Few people in those days had insurance but most of the time they didn’t need it.


20 posted on 09/17/2013 10:56:52 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Responsibility2nd

When about 40% of GDP is Government Spending, you have to ask yourself:

Where is that represented here?

Did the 40% just magically appear in 0bama’s Stash?


21 posted on 09/17/2013 10:56:56 AM PDT by Uncle Miltie (Why haven't we heard from the 30 Benghazi survivors?)
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To: Responsibility2nd

I didn’t savings listed on the wheel

How about taxes??


22 posted on 09/17/2013 10:57:02 AM PDT by GeronL
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To: Responsibility2nd
For the poor, food, clothes, and housing account for more than 60 percent of all spending.

We're having a "food drive" at work - collecting donations for a food shelf.

I brought in an LDS Self Reliance Starter Kit - six #10 cans, one of hard red winter wheat, one of hard white winter wheat, one of white flour, one of white rice, one of pinto beans, and one of quick oats. Altogether, 28 pounds of food. $31 if you order it online, only $21 if you pick it up at an LDS Home Storage Center.

Yes, it's all carbs. But it's healthier than the processed industrial crap most folks are eating. And it's damned-near free. (There's six pounds of pinto beans in a #10 can. One pound in a crock pot will make 10-12 servings.)

23 posted on 09/17/2013 10:57:07 AM PDT by jdege
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To: Tenacious 1

Leftists consider money they did not take to be theirs too


24 posted on 09/17/2013 10:57:58 AM PDT by GeronL
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To: Uncle Miltie
Taxes. Even the first comment at the link caught it.....

 

Buckland

I'm thinking something is missing from the chart. I can't quite see it. Something big ... Hmmm, what could it be? Oh, wait a second ... maybe I see it ... I think I got it ....

OH YEAH, YOU MISSED TAXES!

The average American will 29.4% of their income on taxes this year at all levels. That's a lager slice of the pie than any of the pieces mentioned.

That's the piece that's making it hard to make ends meet. It's also the piece that causes people to create less economic activity that would allow people to afford more of items on in the chart instead of supporting bureaucrats.


25 posted on 09/17/2013 10:59:56 AM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
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To: Responsibility2nd

No taxes?


26 posted on 09/17/2013 11:00:18 AM PDT by Paladin2 (h)
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To: Responsibility2nd

bump


27 posted on 09/17/2013 11:01:34 AM PDT by GeronL
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To: Red Badger

check under “pron”


28 posted on 09/17/2013 11:01:35 AM PDT by Revelation 911 (if "meat is murder" what is abortion?)
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To: Responsibility2nd

What a misleading graph. Of course the rich would pay less for necessities and more for insurance.

More GIGO from the Atlantic’s Derek Thompson. A man who never saw bad data he didn’t like (if it fits his Marxist agenda).

The reason the poor do so badly is government. Permits and licensing are a direct attack on cheap southern labor aka blacks. The incentives don’t exist to pass wealth or good financial decisions along to your offspring, if Uncle Sugar is your daddy.

Worse, 79% of the poor are single-mother households in which the mom had a baby in her teens and didn’t graduate HS. What kind of income is she going to earn?

You could also point out that income inequality is a fascist concept developed by fascists to promote fascism.


29 posted on 09/17/2013 11:03:13 AM PDT by 1010RD (First, Do No Harm)
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To: jdege

You heartless (bleep). How dare you you bring that! Wheres the beer? The steaks? And other expensive foods?

(just kidding)

But I bet there will be some who will turn their nose up at what you brought.


30 posted on 09/17/2013 11:03:51 AM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
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To: Obadiah

Spot on and if we were to eliminate crop subsidies you’d see an exponential growth in effective farm management. Even so, yields continue to rise as technology makes farming more effective.

The next big drop in costs should have been housing, but zoning laws and building codes block that. If housing fell just 10% in cost that would be an enormous break to the average family.


31 posted on 09/17/2013 11:05:55 AM PDT by 1010RD (First, Do No Harm)
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To: cripplecreek

We could solve the majority of healthcare issues via the wholly Constitutional Commerce Clause. You’d knock out a plethora of dumb laws designed by crony capitalists at the state, county and local level meant to block interstate trade.

Why can’t I buy insurance across state lines? Why can a licensed doctor from Indiana practice anywhere she pleases?

One thing that’s coming is a technology driven shift that will move the power of doctors directly on to your smartphone. Moreover, the abortion and education industries are also moving legislation and court cases making it easier to perform abortions and give medicine in schools to children.

That is something you could leverage into real healthcare liberty.


32 posted on 09/17/2013 11:10:18 AM PDT by 1010RD (First, Do No Harm)
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To: Responsibility2nd

TAXES? HOW MUCH IN TAXES?

I PAY MORE IN TAXES THAN I DO FOR ALL OTHER THINGS COMBINED.


33 posted on 09/17/2013 11:11:08 AM PDT by Sequoyah101
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To: Responsibility2nd
But I bet there will be some who will turn their nose up at what you brought.

I'm sure there will be many. But perhaps there will be one family that takes it, figuring at least they can eat the oatmeal, and then reads the pamphlets on self reliance.

34 posted on 09/17/2013 11:11:27 AM PDT by jdege
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To: kempster

Without reporting on taxes this survey is WORTHLESS!


35 posted on 09/17/2013 11:12:27 AM PDT by Sequoyah101
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To: Responsibility2nd

Yup. I’ll say it again. I pay more in taxes than I spend on myself. Donations? NO, thanks, I gave at the IRS, county assessor, sales taxes, fuel taxes, use taxes etc.

Donations? I’ve given more than enough and frankly I don’t care about anyone else any more. None, nada, zip.


36 posted on 09/17/2013 11:17:45 AM PDT by Sequoyah101
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To: Responsibility2nd

Did they combine beer in the food list? ( Liquid bread)


37 posted on 09/17/2013 11:19:47 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: camle
where’s taxes?

Really! On my little personal finance software I have a graph for the year that changes as I make entries. The 'taxes' (actually it says 'damned taxes') part of the pie is usually the largest slice early on into the year and stays there.
38 posted on 09/17/2013 11:19:54 AM PDT by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: Responsibility2nd
strangely enough, they've missed the largest category Americans sink their money into

TAXES

39 posted on 09/17/2013 11:21:30 AM PDT by sten (fighting tyranny never goes out of style)
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To: Responsibility2nd

“The rich have more left over for leisure, insurance, and savings.”

It could be that the rich have always prioritized insurance (risk transfer) and savings, therefore that is a behaviour that made them rich!


40 posted on 09/17/2013 11:47:01 AM PDT by CSM (Keeper of the Dave Ramsey Ping list. FReepmail me if you want your beeber stuned.)
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To: LostInBayport

I think most people don’t have a clue how big a chunk of their “income” goes for taxes. They need to include the part of FICA and MEDICARE / MEDICADE that are paid by their employer as well. For some of us we and the employer are one and the same and each quarter we damn well know exactly how much we are paying in taxes!

EVERYBODY NEEDS TO WRITE A CHECK ONCE A QUARTER FOR TAXES!

It is easy to spend more in taxes than you do on yourself when you alone are saving for your old age and paying both sides of Social Security and Medicare. You live on as little as possible and save the rest.


41 posted on 09/17/2013 11:48:46 AM PDT by Sequoyah101
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To: cripplecreek

It was only after Big Government got into health care that prices exploded, just as in getting a college education. Anything that Big Government touches turns into poor quality at outrageous prices.


42 posted on 09/17/2013 11:51:08 AM PDT by txrefugee
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To: Sequoyah101
For some of us we and the employer are one and the same and each quarter we damn well know exactly how much we are paying in taxes!

My first year of self-employment was revelatory in this respect. Eye-opening and horrifying.

EVERYBODY NEEDS TO WRITE A CHECK ONCE A QUARTER FOR TAXES!

I think it would create enough of an attitude shift to allow us to once again outnumber the takers and perhaps even create enough anger to cause a reduction in the size of government at all levels. The 'slow bleed' format of taxes being deducted before the money gets into the hand of the earner is insidious.
43 posted on 09/17/2013 12:00:16 PM PDT by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: LostInBayport

I always knew how much taxes were and how much of it was FICA medicare and have always considered the employer side paid money that would be available for someone, maybe me?

I think it would cause a revolution that is long over due if people had to write checks for ALL their taxes.

The drones think self-employed just make tons of money but have no idea what the self-employed have to either pay for or simply can’t get, like disability, that employees are provided. NO Idea and most don’t even know how to add it up.


44 posted on 09/17/2013 12:08:49 PM PDT by Sequoyah101
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To: jdege

That’s what people should get instead of FOOD STAMPS!


45 posted on 09/17/2013 12:12:25 PM PDT by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods.)
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To: sten; GeronL; Responsibility2nd; Paladin2; Sequoyah101; LostInBayport
If you click on the Bureau of Labor Statistics link, it will take you to a breakout of the numbers.

Since they're using $65,596 for an average income before taxes in 2012, and total expenditures of $51,442 for the same period, it seems to me that both taxes and some savings would be implied to be contained in the $14,154 difference.

Mind you however, consumers ultimately pay ALL tax receipts, whether corporate, sales, income, or usage. In fact, if you take all taxes received by the government, 2.7T, and divide the number by the number of households in America (114,761,359), the federal taxes paid by each household is about $23,500; that's 36% of what the BLS claims these households earned. Most of the federal government waste and resulting burden on the economy is hidden, and used to be for good reason - not to sure it matters too much anymore though to our dumbed down citizenry.

This doesn't include local or state sales, usage, or income taxes, or the trillion plus extra, the federal government indebts each of these households to annually to meet its recent expenditure level shortfalls!.

46 posted on 09/17/2013 12:13:51 PM PDT by Errant
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To: Errant

bump


47 posted on 09/17/2013 1:26:46 PM PDT by GeronL
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To: cripplecreek

Same story with taxes. My property taxes have gone from 2 weeks of income to 3 months of income.


48 posted on 09/17/2013 1:36:00 PM PDT by bgill (This reply was mined before it was posted.)
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To: txrefugee

When I got my degree, college courses were $4 an hour. Today, the flat rate semester fee is $5000 or about $400 an hour. On campus parking was $15 a semester but today it’s $700. Wages have not increased at that rate.


49 posted on 09/17/2013 1:48:08 PM PDT by bgill (This reply was mined before it was posted.)
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To: bgill

When I was a kid sales tax was 3% of all sales. Today it is almost 10% on all sales... that means the REAL cost of local government has gone up 3 times the rate of inflation.

We had better services 50 years ago. Better schools, more adequate roads, better libraries, better programs, more reliable public services... all better and it cost 1/3 as much.

I wish it would all just melt down and fail to start over. It is impossible to fix.


50 posted on 09/17/2013 6:47:31 PM PDT by Sequoyah101
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