| gameonbro said: its a fact. demand is more important to most businesses than anything. if you dont have customers you dont have a business. the poor put pratically every dime they make back into the economy directly. and last time i check most cities and states have sales taxes plus ss and fica so they pay taxes. thats the most ignorant argument the right makes. EVERYBODY pays taxes. theres a fallacy in the right that thinks if you give the wealthy more money they will create jobs. all most of them do is play in the high stakes casino that is wall street. as for the military argument its rich old farts going after oil sending mostly poor kids to battle to pad their pockets. they'd think twice if it was their kid that had to go on the front line. i see things differently and im pretty well off. this country is going to shit fast. the poor is the dirt covering the roots of an oak tree. the middle class are the roots. the more dirt thats washed away the more the base of the tree erodes until eventually the tree topples or die. the bible said there will always be poor but it also said we should look out for them. but this is america a nation of hypocrites |
Do you think the rich have money bins that hold a large amout of cash outside of the economy?
If your money is in the bank, you have purchased an illiquid asset (stock, bond, etc.), you bought a luxury, or you paid for a necessity the money you used has been returned to the economy; either as available credit for other individuals, or as payment for something you bought from them. For the most part, money spent by the wealthy is redistributed among people who are not wealthy because people of fairly modest incomes produce or sell the goods, services or investments that these individuals are buying.
In an odd way, the only difference between the wealthy spending their money and the poor spending their money is where the goods that are being bought are designed and produced. While the luxury items that are prized by the wealthy are often manufactured in western developed nations, the goods bought by the typical westerner are more often being manufactured in developing nations. This difference is the result of the cost of labour being much more of a factor in lower-end products, and typical consumers being more motivated by modest differences in price. For example, while they aren't (really) a practical product for most people, Yachts and sail boats are manufactured in developed nations by highly skilled workers for middle class wages.
