May be not top 10% but top 0.1% are good at avoiding tax using various loopholes. Like borrowing against stocks (and other appreciating assets) till death to avoid paying CGT and debt is then repaid by heirs which do not pay CGT AFAIK. So they can spend more than income stats would suggest.
May be not top 10% but top 0.1% are good at avoiding tax using various loopholes. Like borrowing against stocks (and other appreciating assets) till death to avoid paying CGT and debt is then repaid by heirs which do not pay CGT AFAIK. So they can spend more than income stats would suggest.