Surprised no one's mentioned this, but a core assumption of the Citrini blog (that high-income earners drive >50% consumer spend) is based on a oft-quoted stat debunked months ago
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Antoine Levy
@LevyAntoine
Replying to @LevyAntoine
First, why does it *feel* wrong?
A. the top 10% get about 50% of *pre-tax* income
B. they get 30 to 37% of disposable income after tax&transfers (depending on source)
3. and we know the rich have a *higher* savings rate, so consume a *lesser share* of their income (US, China)
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