3 ms·

Income volatility: Why more people feel poorer, even if they're not

• onion2k 10y ago
  You can't determine whether or not someone is poor by looking at their income in isolation. It depends on the cost of living - if paying for food and shelter costs as much as, or more than, you earn then you are poor. If your income has doubled in the past decade but the cost of housing has tripled then you are poorer despite earning twice as much.