Top 20% of Americans Drive Nearly 60% of Spending as Inequality Deepens
Updated
Updated · Benzinga · Jun 22
Top 20% of Americans Drive Nearly 60% of Spending as Inequality Deepens
2 articles · Updated · Benzinga · Jun 22
Summary
Households earning more than $175,000 now account for nearly 60% of U.S. consumer outlays, according to Mark Zandi’s updated estimates.
Zandi said the figures make an “overwhelming case” that the financial system is becoming more unequal, leaving most Americans dissatisfied with their finances.
Ro Khanna tied that divide to broader political anger, saying nearly 80% of Americans believe the American dream is dead while billionaire wealth and influence keep rising.
The spending gap fits a wider K-shaped pattern: earlier estimates showed a $7 trillion stock rally generated $53 billion in extra spending, with 75% of that boost going to the top 20%.