This brief post by Matthew Yglesias is unobjectionable in its content. But Slate is running it with the link, “90% of spending is coming from the rich.” Two points:
- Slate’s habit of using link titles to their own articles that are different from the headline on the article itself is weird and frankly a bit wrong.
- The top quintile are not “the rich.” I mean, they include the rich. They start at households making a bit over $100,000 a year. That’s doing pretty well! But it’s not “rich.”