This table shows the average income and consumption of USA in 2006.
We divided the three classes based on their incomes. Average Household Consumption is divided by 8 parts. In the average household consumption, the low class people spend most of their money in housing which is equal to 5,428$. Also middle and high class people spend most of their money in housing. Those three groups spend the least money on Apparel.
If we look through this table, the rich get richer and the poor get poorer. Because, in low class people spend more money on consumption which is two times more than income. But in middle and high class people can accumulate their money because they only spend a half of income on consumption.
This table shows the average income and consumption of Americans in 2006. We divided the three classes based on their average income. The average household consumption is divided into 8 parts. Looking at the average household consumption, the low class people spend most of their money for housing which is equal to $ 5,428. In addition to, both the middle and high class people also spend most of their money for housing. On the other hand, all three classes spend the least of their money for Apparel.
Upon looking at this table, we can say that the rich are getting richer and the poor are getting poorer. It is shown that the consumption of low class people is twice more than their income. However, for middle and high class people, they can save more money since they only consume half of their average income.