Comments
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@NameyMcNameFace, To a certain level, yes. If the people in the bracket I’ll call ‘upper middle class’ (managers, professionals, skilled trades etc) earn more, they tend to spend more, and then it works. But it does feel like there’s a fair bit of the money going to the very rich, where it just stops - people putting a few more millions in the bank, or buying another super-yacht, doesn’t lead to much trickle down. I’m generally in favour of it, but I think it makes a difference who is getting richer first as to how well it works.
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@Nellybert , buying a super yacht helps the economy. The seller gets paid. The seller hires more engineers and boatsmen to build another one to sell. The seller pays them. They spend their money on what normal people spend money on. People forget that just because some rich ahole buys something unnecessary, that it doesn’t hurt the economy. It helps it. Also if you add tariffs while lowering taxes it will bring jobs back from overseas. If you lower tariffs and raise taxes... also they would save money. In a bank where the bank can lend it out. Or they would invest the extra money. It works on paper. It’s working for now but I will admit. Trickle down only works if the economy is good. Trickle down in 08’? Oh shït. We would still be in pain.
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@NameyMcNameFace, I’m not saying buying a super-yacht is bad because it’s unnecessary. What I’m trying to say is that if you give £100million to a billionaire, a huge chunk of it either end up in a tax haven (because he doesn’t need to spend it) or get spent on something so niche that very little of the money makes it in to the wider economy. Give 10,000 people who earn under £100k another £10k, and that’ll probably all end up back in the economy. It’s not that buying a yacht is bad, it’s that spreading that money out a bit more at the start amplifies the money multiplier effect and boosts the economy more. I’m absolutely fine with people being billionaires, I’m not advocating taking more money away through tax rises, and I’m not suggesting some kind of government interference in the economy. I’m just saying that the benefit of trickle down economics varies, depending on what point in the economy the money is injected.
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@Nellybert , @Nellybert , i think we are saying the same thing. The 1% worked hard for their money (or was born into it which at some point their family worked hard for their money) and deserve to keep it. But the economy would collapse if they don’t pay their taxes. We both are saying that the trickle down works if done correctly under the right circumstances and@can be disasteres if not. I’m more on the side of fück Uncle Sam. It’s my money. Dispite being a broke college student. I just think higher taxes does more harm then good. Unless the economic is I. The shïtter like 08’. If that’s the case, more taxes (but not drastic) for a few years and lower them again
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@NameyMcNameFace, actually trickle down doesn't work. It has largely resulted in wealth concentration because people have a higher tendency to save as wealth grows. Its surprising in a way but it's why we have a huge divide in rich vs poor without proper wage increases and a lot of screwy business practices those super rich really earned those billions of dollars. Rich get richer is real it's a well studied economic event as well as observable in sociology. The problem is concentrated wealth and the idea of too big to fail. Trickle down doesnt work even if the economy is doing well it's basically an economists worst nightmare that and the gas tax issue that occurred in the McCain era are like saying communism works perfect.
You’re not just wrong. You’re stupid.