The top 10% of earners—households making about $250,000 a year or more—are splurging on everything from vacations to designer handbags, buoyed by big gains in stocks, real estate and other assets.
Those consumers now account for 49.7% of all spending, a record in data going back to 1989, according to an analysis by Moody’s Analytics. Three decades ago, they accounted for about 36%.
The top-level post uses a gift link. When it runs out, there is an archived copy of the article.
See my other post in here for some context. Someone earning $250,000 a year is probably still working for that income. They’re rich, sure, but they aren’t the problem nor are they your enemy. WSJ publishes stuff like this to keep the working class infighting, like crabs trying to climb out of a bucket.
Someone that makes 250k a year is not rich.
Depends on how you define rich, I suppose. The reason I used that number is that’s what the article is defining as the top 10%.