Top 10% of U.S. earners spend nearly as much as the bottom 70% combined, BofA finds

A Bank of America economic analysis reveals that the top 10% of U.S. households spend nearly as much on non-essential goods and services as the bottom 70% combined. The report highlights a so-called "K-shaped economy", where the financial trajectories of the wealthy and the rest of the population increasingly diverge. The data is based on household spending patterns tracked by BofA economists.