Comment by tsss
5 days ago
You don't need an educated workforce if you have machines that can do it reliably. The more important question is: who will buy your crap if your population is too poor due to lack of well paying jobs? A look towards England or Germany has the answer.
The top 10% of households already account for more than half of consumer spending in the US
Hmmm, that doesn't seem right. I'm having a hard time finding an actual consumption number, but I am confident it's well below 50%.
The top 10% of households by wage income do receive ~50% of pre-tax wage income, but:
1) our tax system is progressive, so actual net income share is less
2) there's significant post-wage redistribution (social security/medicaid)
3) that high income households consume a smaller percent of their net income is a well established fact.
https://www.marketplace.org/story/2025/09/17/top-10-of-earne...