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this post was submitted on 05 Dec 2023
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politics
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How?
Through investment. Meaning it is back circulating.
No. The top 10% aren't giving money to help mom and pop businesses, they are buying stocks, the vast majority of which they own , removing that wealth from the larger economy, as I was saying.
That's, by definition, not removing wealth from the economy.
What if I told you that you could support taxing wealthy people more and know how basic facts of the economy work.
Personally I'm for dramatic progressive tax increases on the top 3 quintiles. That doesn't change basic facts.
It is when there's such a disconnect that there's two economies: the one of most of society, in which money circulates and then most of it rises to the second one, the one of the top 10% where almost none of it finds its way down.
It's kinda like a 16 lane highway going one direction and an overgrown footpath with bear traps in the other direction.
With you on the first part, way ahead of you on the other.
To quote a self-aware billionaire:
Well I guess not everyone is good with money, but this is hardly an exception that invalidates anything.
He's not an exception, you utter buffoon, he's the rule! 🤦
One of these days I'm gonna learn to just leave it alone when I see your username or just block your Dunning Kruger poster boy ass. This is somewhere between the 3rd and 5th argument we've had in the last 5 or so months and you've been arrogantly obtuse every single time 😮💨
Go nuts man