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It's counter intuitive but its roughly the same percentages for most things. You'd be surprised at just how much a rich person spends on food, shelter transport
by dgb23 4y ago
It's counter intuitive but its roughly the same percentages for most things. You'd be surprised at just how much a rich person spends on food, shelter transport etc. typically they will pay for very high quality, labor intensive and exclusive things. The difference is really just education and investment.
- dahart 4y ago> It’s counter intuitive but it’s roughly the same percentages for most things. Do you have evidence for this claim? I don’t believe it’s true. Take food, for example, the US government publishes the fact that food spending as a share of income declines as income rises. https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId=58372 https://www.ers.usda.gov/data-products/chart-gallery/gallery... https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/food-prices-and-spending/ https://www.ers.usda.gov/data-products/ag-and-food-statistic...