“Let Them Eat Lentils” Is The New “Let Them Eat Cake”
And I’m not ok with that.
No f-g kidding. Most people don’t make over $300k. Twitter exploded after this article was published.
If your income is more than $289,000 a year, the run-up in gas prices may be alarming — but it’s unlikely to hammer your overall finances. After all, Americans at that level spend no more than 1% of their take-home pay on gas and oil, according to the Bureau of Labor Statistics.
For those earning much less, it’s a different story. Those at the median, with income of about $50,000, spend more than 3% of it on gas and motor oil. Low-income households making between $7,000 and $19,000 spend about 9%. The latest inflation numbers show gas prices jumped 6.6% in February from a month earlier — even before President Joe Biden banned U.S. imports of Russian oil.
It’s obviously not just gasoline prices. Food prices are WAY up!
Food prices are also up, posting their biggest monthly increase since April 2020. There, too, those making…
