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NEW: Our new report looking at household spending between 2004 and 2024 found that lower-income households were spending nearly all of their pre-tax income on basic needs alone—things like food, housing, health care and transportation.

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This report confirms what we've all been feeling lately: everything is more expensive, and our wages aren't keeping up. All while the rich keep getting richer, in part thanks to the massive tax cuts that Trump and Republicans in Congress handed to the billionaire class last year.