Social Connection
The top 1% account for what percent of consumer spending?
December 7th, 2011 | 
Author: Question by Lastname Comma Firstname: The top 1% account for what percent of consumer spending?
Best answer:
Answer by Dave87gn
less than 30%..but how much less I don’t know
Add your own answer in the comments!
Popular Posts:
- Stocks Posting Sharp Losses In Early Afternoon Trading – U.S. Commentary
- TIer 5 Unemployment Extension Update 05/15/2010
- How does one qualify to receive the FED-ED unemployment insurance extension in California?
- NCESC Unemployment Benefits – www.ncesc.com « Breaking News
- How can i get money?I am a jobless person and don’t have any source of income with me.?
Tags:
The top 5% accounts for 37% of consumer spending
The bottom 80% accounts for 39.5% of consumer spending
Not sure about the top 1% though
I don’t have the number, to be sure. But they spend much less than they receive and save, thus causing a “leakage” of sorts in the economy.
The money unspent sits in banks, simply collecting interest and is not cycled through the economy, creating jobs, being spent on capital goods, nor even being lent out for small business, as anybody who has tried to take out a loan recently knows.
This unspent money perpetuates itself when the owner has children, marries, or combines with other rich families. It does not move productively to the interests of the American public in the way that we hope that it would. Why would/should a rich person spend all their money, if they can rather spend less now, and be rich forever?