Adam Smith was well aware that the rich man spent a smaller percent of his income on his mansion than the poor man did in his shack. The rich person also has, s

Adam Smith was well aware that the rich man spent a smaller percent of his income on his mansion than the poor man did in his shack. The rich person also has, statistically speaking, a year’s income in liquid cash, a few mil in stocks and bonds, some expensive cars, maybe a boat, some expensive sports hobbies, a travel budget, good food at all times, and a will to divvy up all the wealth among their children.