The Census Bureau reports that the rich-poor gap in lifestyles has narrowed substantially since 1992 -- at least when measured empirically by possession of tangible items once considered luxuries, the Christian Science Monitor said Friday.
For example, two-thirds of U.S. residents in poverty had air conditioners in 1998, up from 50 percent in 1992, the bureau said. The actual number of poor who today have air conditioning is most likely higher than two-thirds because of wealth creation since 1998.
"In terms of the items people have ... it amazes me the number of people who are at or near the poverty line that have color TVs, cable, washer, dryer, microwave," said Michael Cosgrove, an economist at the University of Dallas in Irving, Texas.
That's not to ignore the hardships of poverty, he added, "but the conveniences they have are in fact pretty good."
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