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Monday, May 05, 2014

Why America's Essentials Are Getting More Expensive While Its Toys Are Getting Cheap

http://www.theatlantic.com/business/archive/2014/05/its-expensive-to-be-poor/361533/

It comes from Annie Lowrey's look at U.S. poverty, which is appropriate, because you occasionally hear conservatives say that poor people aren't really poor because, you know, they have refrigerators and TVs, don't they? Yes, they do. More than 80 percent of low-income households have a fridge, TV, microwave, and stove. They can heat food and cool food and watch American Idol, no problem.
But the power to alter the temperature of your food and watch FOX is not quite the same as being rich. Tens of millions of families remain uninsured, millions more can't afford to go to (or finish a degree at a high-quality) college, and millions more struggle to pay for daycare for their children. Meanwhile, used HD televisions are dirt cheap and it's never been more affordable to buy simple electronics. Why does it seem like the least important things in life—TVs, toys, and DVD players—are getting cheap while the most important parts of the economy are getting more expensive?

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