Cheap money, both QE and low top end taxes, increases the money supply, and it does absolutely increase demand: stocks, bonds, and real estate. The top 20% own

Cheap money, both QE and low top end taxes, increases the money supply, and it does absolutely increase demand: stocks, bonds, and real estate. The top 20% own 92% of the stocks. It is a lower risk for wealthy people to pay cheap top end taxes and stuff what remains into stocks or real estate, than it is to open a business or expand an existing business. It's a state sponsored hoarding policy that heavily favors wealthy people. That it doesn't trickle down to the working class is by design. It's not a mistake. They're not stupid. This is the entire point of privatization of social security. It just dumps more cash into the stock market, driving up prices, benefiting the early investors more than it benefits the new investors.