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Grouchy_Occasion2292 t1_ixu3nks wrote

Reply to comment by Mr_Bad_Example20 in Black Friday online sales to hit new record by wander9077

It's called credit. The vast majority of Americans are over leveraged.

https://www.deseret.com/u-s-world/2022/8/1/23287145/latest-inflation-report-explained-americans-are-over-leveraged-and-still-spending

And 48% of Americans that make 100K or more are still living paycheck to paycheck

https://ir.lendingclub.com/news/news-details/2022/48-Percent-of-Americans-with-Annual-Incomes-over-100000-Live-Paycheck-to-Paycheck-9-percentage-points-higher-than-first-reported-in-June-2021/default.aspx

It's almost like we're living in a house of cards and at some point it's all going to come crashing down...

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AussieJeffProbst t1_ixu9fd4 wrote

I think the bigger takeaway from that is that 77% of people making under $100k are living paycheck to paycheck.

It's hard to get an exact figure but somewhere around 95% of Americans make less than $100k.

There are about 160,000,000 working Americans.

95% of working age Americans = 152,000,000

77% of that = 117,040,000

So about 117 MILLION Americans making under 100k live paycheck to paycheck. That number is insane.

Sources:

https://tradingeconomics.com/united-states/employed-persons

https://flowingdata.com/2022/01/26/how-much-americans-make/

Edit: Lol why is this downvoted so hard? You guys hate facts?

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Mr_Bad_Example20 t1_ixuhe5c wrote

If you're living paycheck to paycheck, and can't afford basic necessities like food, electricity and heat but you're blowing money on black Friday to charge crap then you'll get little sympathy from me. I'm by no means wealthy but I haven't charged 10's of thousands of dollars on junk either.

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