"On this vertical line, we have the four basic standards of living. At the top is luxury, the people, like the Rockefellers and the Kennedys, who aren't too worried about where their next dollar or meal is coming from. At the bottom is sheer poverty, which includes wards of the state, and the homeless. Above the poverty level is the necessity level, where people spend about 110 percent of what they take in, and here, last of all, is the vast area in America that we call the comfort level."
(Label standards of living in the order mentioned as you discuss each.)
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