Can you name me a well known millionaire or billionaire who spends 30% on properties that he uses to live in (not investment) or on items of pleasure or need that are a significantly higher percentage share of his wealth than the percentage on same items by someone in the middle class? I don't know anyone. I guess empirical evidence is my basis here. I would actually claim the opposite happens for wealthy people: they spend percentage wise way less on discretionary spending than a Joe in the middle class.
