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Discarded ATM Receipts Show NYC Inequality

With a population of more than 8 million people there are clearly going to be inequalities in New York City’s living standards.

However, as illustrated by these two receipts found outside a bank in the Big Apple, the differences in quality of life for New Yorkers are more stark than any other city in the U.S.

The receipts were found outside a branch of Chase bank by Tony Case, executive editor at AdWeek.

One says the customer has ‘insufficient funds’ to withdraw $100. The other, is a $300 withdrawl on an account with a balance of more than $1million.

The receipts back-up a recent report on Income inequality in New York.

The analysis from major Michael Bloomberg’s administration revealed that nearly half of the city’s residents were poor or near-poor in 2011.

However, during the same year it was revealed that New York is the American city with the most millionaires.

A recent Census Bureau report also found that New York City and New York State are the metropolitan area and state respectively with the highest level of income inequality in America.

This is not the first time a receipt has highlighted differences in wealth in New York.

In 2011, a receipt was left outside an ATM in super-rich East Hampton which revealed the bank account contained nearly $100 million.

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14 Comments

  • Shmuli

    I don’t get the point of the story. A Millionaire happened to make a withdrawal some time around when someone else’s withdrawal was denied. Yay!

    I happen to be one of those people who’s withdrawal would get denied. But we shouldn’t look for “equality of results”, rather “equality of opportunity”. Thank G-d we live in a country where there are opportunities, and the proof is that there are so many Millionaires.

    Don’t begrudge someone else’s success! You can be successful too!

  • Milhouse

    Exactly. What is the significance of inequality? Should we expect people to have equal wealth?! Why? Hashem set up the world that He gives money to some people and not to others. The gemoro says that Rebbi mechabed ashirim, because Hashem likes them and chose to give them money. And begashmius those who have money earned it, or were given it by those who earned it, and thus they deserve it. Talking about “inequality” only promotes envy and hatred, and ultimately theft.

  • Mayor Blooper

    If he was not busy getting parking fines to be almost 150 a pop, and other stupidities like that, some of us would have an easier time withdrawing our $100.

  • Chaim Ber

    If the guy has more then 1 mil in his account why was the transaction denied?!

    See top of the recipt of the right.

  • MaidofCh

    Poverty is a Moshiach issue; it can’t be “cured” because there are multiple causes. However, why are the rich to blame? Excuse me — the Republican rich. Liberals are quick to excuse the wealthy among their own. Also, they resent the stereotype of the single mother on welfare, calling it racist or sexist, yet, they seem to resent anyone with a dollar bill, painting them all with the same broad brush. I don’t know what percent of the 1% have earned their cash with hard work (& siyata deshamaya) but I know that quite a few give to charities. The wealthy support quite a few institutions. Quite a few live responsibly — more than what I can say for someone living on overdraft.

  • yossi

    The guy who withdraw 300, it was done as a mitzvah , to give the other declined client some tzedoko.

  • the cats out of the bag

    Hey thats my receipt….oh no now u all know thst im a millionare and my tuition will go up!@!

  • Samson

    What is the point of this article? That everyone, even the lazy and irresposible, should have the same thing as those who are hard working and diligent? Wouldn’t that be communism?

  • Simple explanation

    My Chase statement includes all of my accounts: mortgate and savings accounts as well as 2 personal checking accounts (husband and wife), several high school accounts and business checking account plus credit card. We very seldom use ATMs so I am unfamilliar with those receipts but the monthly statement and on line page show the total of all of the personal accounts. Because of overdraft protection we are covered if an account is NSF but charged a fee. The denied customer in this case probably did not have this protection. I have a checking account at another bank where I have a loan so I can deposit the money to cover the loan, cover service charges and keep a very small balance for a debit card which I use for parking meters, cold drink machines and as a second card when traveling . The same linking is used there so I imagine this is the current practice.