tonorator Posted February 12, 2008 Share Posted February 12, 2008 surprised to see the level of overconsumption in the lowest fifth. i would have guessed that they would be overconsuming, but didn't expect it to be by about double their income. also surprised that the middle fifth is not overconsuming in total. easy to see who is paying all the taxes ... amazing how fast we are consuming the latest innovations (second chart). iphone! iphone! Quote Link to comment Share on other sites More sharing options...
wiegie Posted February 12, 2008 Share Posted February 12, 2008 surprised to see the level of overconsumption in the lowest fifth. i would have guessed that they would be overconsuming, but didn't expect it to be by about double their income. also surprised that the middle fifth is not overconsuming in total. easy to see who is paying all the taxes ... amazing how fast we are consuming the latest innovations (second chart). iphone! iphone! it is likely that the statistics are skewed by, among other things, the consumption of senior citizens who are consuming out of their wealth rather than out of their current income Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted February 12, 2008 Share Posted February 12, 2008 I only buy necessities. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 12, 2008 Share Posted February 12, 2008 heard a quote on cnbc the other day "rich people acquire wealth, poor people acquire things" Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted February 12, 2008 Share Posted February 12, 2008 it is likely that the statistics are skewed by, among other things, the consumption of senior citizens who are consuming out of their wealth rather than out of their current income if anything, i would think that factor might be more at play in the middle quintiles. seniors in the lowest quintile probably don't have a ton of wealth to be consuming out of, and instead are living primarily on SS income. in any case, it is an interesting chart. Quote Link to comment Share on other sites More sharing options...
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