Analyze an Article

Analyze an article
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Analyzing an article
This essay aims at describing the subject matter of one of the article that have been located in http://www.prnewswire.com/news-releases/old-habits-die-hard-working-americans-struggle-to-keep-their-wallets-closed-200024811.html and also gives the interpretation of the results, the meaning of the confidence interval and margin of error regarding the subject matter of the article.The article “OLD HABITS DIE HARD: WORKING AMERICANS STRUGGLE TO KEEP THEIR POCKETS CLOSED, Jacksonville, Fla,March 26, 2013 “explores the financial situation in the United States of America after the introduction of the payroll tax.
In research that was conducted by Accounting Principles by use of survey, it was found that the introduction of the payroll taxes impacted the daily lives of Americans negatively. An average of One Hundred and Thirty dollars were reduced from the salaries of Americans as a result of the introduction of the payroll taxes.
According to this survey, spending habits have been greatly altered hence leading to a change in the social lives of most American people. 20 percent of working Americans who participated in the survey have been forced to cut their spending in various ways. Examples of such areas where expenditure has been altered include drinking joints such as bars and restaurants while a further 19 percent of all respondents have had to do away with taking their lunches.
An interesting feature of this article is that 22 percent of the participants have not altered their spending at all and that most working Americans struggle to keep their hard earned cash in the banks for longer periods of time.

Some of them, in fact, have already pulled their funds meant for retirement from the saving institutions such as IRAs. A majority of the American people diverted the money to unexpected expenses such as repair of homes or cars representing 27 percent, healthcare representing 25 percent or using the money during the periods that they remained unemployed. Quite a sizable percentage (16 %) of working Americans, however, spent the funds meant for retirement for nonessential expenses such as going to vacations, buying boats and modeling their homes. This may perhaps help make a meaningful inference that in as much as there is a financial crisis in America due to the introduction of payroll taxes, saving is not a priority for most people.
Further findings from the survey showed that Lunch and Coffee were the Major expenditure. Out of all the respondents, 82 percent of them confessed to having spent an average of 21 dollars a weak on coffee alone while 89 of all respondents indicated that they spent an average of 36 dollars in a single weak results that are consistent with a similar survey that was conducted in the year 2012 whose finding were that an average of Twenty-One Dollars and Thirty Seven dollars were spent on coffee and Lunch respectively. In addition to this finding, it was noted that Americans spent a lot of money to buy food. 65 percent of the people who were surveyed admitted that expenditure on food like the buying of lunch was a major pitfall for most Americans.
This survey conducted via telephone and which involved a sample size of 1020 participants who were employed and had an age of 18 years or more had a margin of error of +/- 3 in its results and a confidence level of 95%. In general, with a 95% confidence level, we can conclude that striving to cut weak mid expenses is not sufficient to avoid pulling long term savings for short term costs.