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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (45709)9/8/2010 6:26:51 PM
From: TimF  Read Replies (1) of 71588
 
In the aggregate, that is *exactly* what the data shows.

No it doesn't. It shows they spend a lesser percentage of their total income, not a lesser percentage of the marginal dollar.

If a rich guy spends 10% of his income (counting only consumer spending as spending, for some odd reason, even though investment spending is also spending money), and the poor guy spend 95% because he can't spend any less, and we assume this is typical (even though its probably exaggerated) that's your aggregate. We have plenty of about the general trends of the aggregates for this type of issue, almost all of which supports the idea that as a percentage of their total income the rich apply less to consumer spending.

But we don't have data about the marginal dollar in the current situation, and little, or at less less data about the marginal dollar even in different situations.
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