Wealthy Americans: Can They Save the Economy?
Update: 2025-09-28
Description
Can the wealthy save the economy? New data suggests relying on high-income households to drive economic growth may be a risky bet. Despite earning a large share of income, the wealthiest Americans account for less spending than you think, save a large portion of their earnings, and often pay capital gains taxes instead of immediately reinvesting profits. With consumer spending strong but job growth slowing, the hope that the rich will keep the economy afloat is fading, raising the risk of a potential recession.
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