Top% of Earners Drive a Growing Share of Us Consumer Spending
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Income InequalityConsumer SpendingUs Economy
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Income Inequality
Consumer Spending
Us Economy
The top 10% of earners in the US are driving a growing share of consumer spending, according to a Bloomberg report.
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The last time we had a majority of individuals responsible for producing much of the economy’s output, yet unable to consume beyond a subsistence level, we called them “slaves”.