What is the estimated propensity to consume out of wealth, and how does it depend on income levels?
To make sure we are talking about the same thing: I am asking what estimates we have on what percentage of their wealth people turn into spending (on pure consumption - not investment) annually. And I want to know how it depends on income levels. Do poor people have a higher percentage than others, since otherwise they'd starve? Do middle income people have a higher or lower percentage than high income people? And how big is that difference, if it exists?