Wall Street strategist explains today’s political rage with a poverty line that should be $140,000 and the ‘Valley of Death’ trapping people below it
"... according to Michael Green, chief strategist and portfolio manager for Simplify Asset Management, conventional gauges don’t capture how much Americans are struggling with the cost of living, even households earning six figures.
Green estimated that food comprises just 5% to 7% of household spending, but put housing at 35% to 45%, childcare at 20% to 40%, and health care at 15% to 25%.
https://fortune.com/2025/11/29/poverty-line-140000-political-rage-affordability-crisis-inflation-cost-of-living/
Health (yellow) is the biggest challenge Americans face
Work related (green) issues come second
Then there is Cost of living
Cost of living, in a rich middle class, is when a person can no longer afford a superfluous habit, Jason Ma, like a Caramel Macchiato at Starbucks. A Trip to Disneyworld. Swim and piano lessons to kids. Postpone a long trip.
Going to the lower middle class stratum, the person sticks to an old car for longer time. The ones who need a newer one, buy a cheaper model. Postpone a home renovation.
Statista says:
Shifting Public Priorities In previous years, surveys like this one showed health care, immigration, and social issues as top concerns. But in 2025, practical day-to-day economic struggles have taken center stage. Even work-life balance, mental health, and political issues now rank below cost of living—a sign that financial strain is eclipsing nearly every other dimension of life.
This aligns with longer-term polling from Statista, which shows that economic issues have climbed steadily up the ranks of American worries since the onset of the pandemic and subsequent inflation spike.
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