HONOLULU (KHON2) — In the 1950s, corporate tax rates were at a historic high which allowed the United States’ prosperity to balloon. During this period, one job was usually enough to support a family.
Today, however, that is far from the truth. A new study shows that nearly eight in 10 people in the United States live paycheck to paycheck. That means most are just covering their basic bills with little left over.
Here’s what we found in the new study.
The cost of an average lifestyle
Researchers measured the hours people must work to afford an average lifestyle. They included rent, food, utilities, medical care, transportation, apparel, recreation and one domestic vacation per year…