this post was submitted on 24 Feb 2025
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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.

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[–] DrFistington@lemmy.world 80 points 1 year ago (3 children)

Maybe if you didn't fucking rob the other 90%, the numbers would be different.

[–] thatKamGuy@sh.itjust.works 25 points 1 year ago (2 children)

$250K isn’t that outrageous of a household income (or at least it shouldn’t be); literally two good white collar jobs would reach that point in the coastal cities.

The bigger thing at issue is to not frame it as 90% vs 10%, it’s literally 99% vs 1% — if not 99.9% vs. 0.1% if we are really talking about the ‘disconnected from reality wealthy’.

That’s the line that the wealthiest amongst us are trying to draw, in order to build class disunity. A white-collar household pulling in $250K has a lot more in common with a blue-collar household pulling in $65K, than they do the oligarchy above them.

[–] athairmor@lemmy.world 13 points 1 year ago

Yeah, $250k in an average to high cost of living area is middle class comfortable. Not rich.

Calling that income rich is a tactic to get the middle class to identify with the billionaires and support regressive policies.

[–] Jakeroxs@sh.itjust.works 7 points 1 year ago

As someone who has lived both experiences, you are absolutely correct.

[–] listfullyaware@lemmy.ca 2 points 1 year ago

Exactly. They seem to be concluding that only the wealthy can bear the burden of spending money for the rest of us?