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Net consumer spending is still down ~4%. In the long-run if high income individuals could simply stop spending ~10% of their income - its quite likely that the
by lumost 6y ago
Net consumer spending is still down ~4%. In the long-run if high income individuals could simply stop spending ~10% of their income - its quite likely that they are not spending the 10% on things that move the needle.
- noirbot 6y agoIf anything, this somewhat refutes the GP's point. Giving money to low-income people and increasing their spending didn't make up for the larger decrease in high-income spending. This is not to say that we shouldn't support low-income people, that's important as a moral and civil matter, but the economy at large, by volume, includes a lot of things that mostly high-income people spend on, and those things often employ a lot of people.