20% of people earning $250,000 per year live paycheck-to-paycheck
CBSN
Low-wage workers aren't the only group of Americans regularly spending most or all of their paychecks.
A greater share of Americans who earn more than $250,000 annually are spending all of what they bring in, compared with workers earning less than $100,000, according to a new analysis from the Bank of America Institute.
To be sure, people who are truly living "paycheck-to-paycheck" tend to be lower down the income ladder, the company said. But the findings also show that a significant share of workers at all income levels regularly spend all of their income — or more.
Ashley White received her earliest combat action badge from the United States Army soon after the first lieutenant arrived in Afghanistan. The silver military award, recognizing soldiers who've been personally engaged by an attacker during conflict, was considered an achievement in and of itself as well as an affirming rite of passage for the newly deployed. White had earned it for using her own body to shield a group of civilian women and children from gunfire that broke out in the midst of her third mission in Kandahar province. All of them survived. She never mentioned the badge to anyone in her battalion.