Hiltzik questions support for the wealthy

Reports suggest that wealthy households earning over $500,000 feel financial strain comparable to lower-income families, with many resorting to discount shopping and cutting back on expenses. However, this perception overlooks differences in available assets, such as retirement savings and property, which distinguish true financial hardship from lifestyle choices. While some high earners report spending pressure, overall, the article emphasizes that income level alone does not fully determine financial security.

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