Retail reports show the rich are spending, but others are scrimping
The bottom fifth of earners, with a median household income of $9,846, spend 35.6 percent of their income on food and 9.4 percent on gas, according to Citi Investment Research.
The top fifth, whose median household income is $157,631, spend only 6.8 percent on food and 1.9 percent on gas. So they feel price increases less.
Go team America!! Land of Opportunity!
No comments:
Post a Comment