Top 10% of Earners Drive Half of U.S. Consumer Spending as 22 States Enter Recession
The wealthiest 10% of American households now account for nearly 50% of all consumer spending, while the bottom 80% earning under $175,000 annually barely keep pace with inflation. With 22 states plus Washington D.C. already in recession, economists warn that reduced spending by high earners could trigger broader economic contraction.
ViaNews Editorial Team (Markets)•