The Institute for Fiscal Studies has been looking at poverty and income:
Research by the IFS discovered that those at the bottom of the income spectrum had higher living standards than those with slightly better pay.
The findings suggest low spending is a better indication of poverty, instead of low income.
In fact, those with the lowest income had a high level of spending, suggesting they were only temporarily at the bottom of the income pile - drawing upon savings or other assets as a buffer against poverty - or that they are underreporting their earnings.
Yep, all those satellite TVs, iPhones and better cars than mine! They grow on trees!
....
1 comment:
The other thing that allows those at the bottom of the income stream to have better living standard is that of not having to pay for many things. They don't pay their mortgage (or very low rent), they get tax credits, they can go and use council services for free (or low charges). Those who get just a little bit more have to pay for all these things at full rate.
Post a Comment