Majority of Gen Z Americans hold negative views of capitalism: Poll : politics


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In 1950 Two-thirds of Americans over 60 had incomes of less than $1,000 annually (A Little over $11,000 in 2020 Dollars (Poverty guideline for 2020 in family/household of 1 is income below $12,760)), and only one in eight had health insurance.

The median income of households in the United States in 1967 was $7,200,

The Middle class went

But where did the shrinking middle-class US households go?

  • In 1969, only 8.1% of US households earned the 2016 equivalent of $100,000 or more, but

  • by 2016, 27.7% of US households were in that high-income category.

IN 1966 you would spend 23.3% of gross income on food and people ate food food at restaurants less than once a month.

In 2017 food spending was 9.5% of income on food,

  • In 2017 Total food Spending was $7,729

  • About $4,000 of that was food from food establishments where we eat at more than 1/3rd of the time and the cost of food is 2 times as expensive

Ever read a cookbook from the 1960s or 70s. All respect to cooks but those years of cooking…..

Now I can spend $6,000 on way better food for a family and half of it is eating out twice as much as those from the 60’s did

Where do people Spend their food money? Not on necessity food. Of all spending on Food in 2019

  • Purchases for Eating at Home 43.63%

  • Grocery stores 25.51%

  • Convenience and Other food stores 1.89%

  • Warehouse clubs and supercenters 9.51%

  • Other stores and foodservice 4.32%

  • Mail order and home delivery 1.51%

  • Mass merchandisers and Direct selling by farmers, manufacturers, and wholesalers 0.88%

  • Purchases for Eating Away From Home 50.44%

  • Full-service restaurants 18.34%

  • Limited-service restaurants 20.45%

  • Food Sales at Drinking places 0.30%

  • Food Sales at Hotels and motels 2.12%

  • Retail stores and vending 2.15%

  • Recreational places 1.85%

  • Schools and colleges 3.86%

  • Other Places Out of Home 1.37%

  • Bar Sales 5.93%

  • Alcohol Sales at Eating and drinking places 5.32%

  • Alcohol Sales at Hotels and motels 0.62%

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Roberto Walker
He is an associate editor and works at the political desk. He covers a wide range of news from world politics to local politics.
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