4 ms·

The rich spend a lesser percentage of their revenue than the poor scroungers, your argument seems pretty flawed.

• ams6110 9y ago
  They invest their money though. It's not just cash in a vault somewhere. So it does benefit the economy.
  • maxxxxx 9y ago
    Or it drives up asset prices. See housing.
    • chii 9y ago
      Which should have a corresponding increase in quantity of housing. Why that doesn't happen in some places is hard to discern, but the investments by the rich does make the economy grow.
      • maxxxxx 9y ago
        If you already own housing it makes a lot of sense to block new development.
  • neilwilson 9y ago
    Actually it is somewhere. After the portfolio adjustments are made somebody ends up with cash in a vault somewhere (or more likely bank money). Very often on the asset side of a foreign central bank which they then use to discount into their own currency (hi China)