evince
Truthmatters
http://www.boston.com/business/blog..._and_grow_the_economy.html?rss_id=Top+Stories
Right now the nation needs consumers. So who consumes and who saves? This is well-known. In general, savers are rich people. A family in the top 1% of all earners (those with incomes in excess of $569,000) spends only about 49 cents out of every additional dollar while those in the top 5% spend 63 cents out of every dollar. The rest goes into savings accounts, the stock market, and hedge funds – which in the short run create virtually no jobs.
What about everyone else? Four-person families in the lowest quintile of incomes – the poorest 20 percent -- earning up to $45,200 a year spend 99 cents out of every additional dollar. Families in the second quintile ($45,201 - $69,800) spend 91 cents while those in the middle quintile (earning up to $100,200) spend 89 cents.
Right now the nation needs consumers. So who consumes and who saves? This is well-known. In general, savers are rich people. A family in the top 1% of all earners (those with incomes in excess of $569,000) spends only about 49 cents out of every additional dollar while those in the top 5% spend 63 cents out of every dollar. The rest goes into savings accounts, the stock market, and hedge funds – which in the short run create virtually no jobs.
What about everyone else? Four-person families in the lowest quintile of incomes – the poorest 20 percent -- earning up to $45,200 a year spend 99 cents out of every additional dollar. Families in the second quintile ($45,201 - $69,800) spend 91 cents while those in the middle quintile (earning up to $100,200) spend 89 cents.
