Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
I don’t understand the increase in leisure and hospitality. Who is doing all this travel and entertainment. That’s the first thing I’m cutting out the budget.
The top 10% of income earners. Our economy is entirely reliant on them.
That isn't really true. The reason the GDP and economy in general do better when democratic policies are in place are because money cycles through communities many times more when poor and middle class people have resources. The top 1% or 10% mostly horde money and it doesn't really benefit the broader society.
The problem is the “health” of our economy has become almost entirely reliant on top 10%. That’s who is traveling and markets overwhelmingly are catering to them.
https://www.washingtonpost.com/opinions/2025/08/06/economy-jobs-middle-class-recession-tariffs/
The top 10 percent of earners now drive about half of spending, according to Moody’s, up from 36 percent three decades ago. These people will determine if the U.S. economy avoids a recession. These are households earning $250,000 or more, and they are largely doing just fine, buoyed by strong stock-market gains, mansions and rental properties that have shot up in value in recent years, and a rebound in business dealmaking. The wealthy continue to spend on lavish vacations, parties and events, and that masks the strain that many middle-class and moderate-income families are experiencing.