Top 20% of U.S. earners account for about 58% of spending
The share is the highest on record, while the bottom 80% make up roughly 42%, the lowest proportion cited in the source.
Fact Check
The claim accurately summarizes the linked Kobeissi Letter post, which states the top 20% account for ~58% of personal spending (highest on record) and the bottom 80% ~42% (lowest on record). The underlying trend is corroborated by Moody's Analytics data reported via Briefs.co (~59% top / 41% bottom) and the WSJ (Zandi's record-high concentration estimates). Reported figures vary modestly (58-63%) depending on the time window and series, but the claim's ~58%/~42% values and the 'highest/lowest on record' characterization are consistent with the cited data. Minor uncertainty remains because exact percentages differ slightly across outlets and measurement periods.
Summary
The top 20% of earners in the United States now account for about 58% of all personal spending, described as the highest proportion on record. The bottom 80% account for about 42%, which the source says is the lowest on record. The post links the widening gap to personal outlays growth, but provides no further figures, timeframe, or underlying dataset in the supplied text.
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