Poverty: Information vs. Entertainment

IBD concludes that the poor in America emphasize entertainment over information in their spending. I would like to see cell phone spending included in this analysis.

Source: Investor’s Business Daily stock analysis and business news.

…the poor shun PCs and other valuable information gear for entertainment toys. In fact, their spending on color TVs — including big-screen TVs — is on par with the rich.

More than 34% of poor own two color TVs compared with 33% of the rich, according to the latest Census Bureau tables. And more than half own two or more color TVs. What’s more, fully 1 in 4 poor households have a large-screen TV (vs. 2 in 5 wealthy households).

Ibd_0831 According to the census, less than 20% of the poor own a PC, and just 15% have access to the Internet and its vast treasure of knowledge. In contrast, 83% of upper-income Americans own at least one PC, and 74% are online.

It’s plain to see the poor put a higher value on entertainment than information. The problem isn’t a case of "information haves and have-nots," as the media elite have played it. It’s a case of information haves and will-nots.