Why the economy needs rich Americans more than ever

The US economy is more reliant on the richest Americans than ever before. The top 10 percent of earners - households making $250,000 or more a year - now account for 49.7 percent of consumer spending. That is a record figure, according to analysis by Moody's Analytics of Federal Reserve data going back to 1989. Three decades ago, the richest Americans only accounted for 36 percent of spending, The Wall Street Journal reported.
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Why the economy needs rich Americans more than ever