Process
Status Items Output None Questions None Claims None Highlights Done See section below
Highlights
id874459276
the top 10 percent of earners has grown to account for nearly half of US consumer spending — up about fourteen points over the last thirty years. These households enjoy incomes of $250,000 or more each year — money that comes from assets as much as wages or salaries, and which goes to luxury goods and services. Mark Zandi, chief economist at Moody’s Analytics, told the Journal that the wealthiest are spending more per capita than everyone else
id874459354
Decades of deindustrialization, financialization, and the legacy of Reaganomics — deregulation and tax cuts for the rich — have driven the United States toward a rentier economy, where wealth isn’t made by building things but by owning and exploiting assets.