The American middle class has absorbed a steep increase in the cost of health care and other necessities as incomes have stagnated over the past half decade, a squeeze that has forced families to cut back spending on everything from clothing to restaurants.
Health-care spending by middle-income Americans rose 24% between 2007 and 2013, driven by an even larger rise in the cost of buying health insurance...
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Sure, we all know this from personal experience. Do you know who doesn't "know" this? The psychopaths who calculate disposable income. That's right. Personal Disposable Income is calculated before subtracting out insurance.
2 comments:
Lately I keep hearing that to save the middle income we need to raise the minimum wage. Now minimum wage worker is middle income? This sucker is going down.
I am preparing a post on the local minimum wage consequences. Good call LBD.
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