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That’s the whole idea behind tax cuts and increasing income share for rich people and stagnating wages for everybody else. Only rich people can use money in a p
by spaetzleesser 5y ago
That’s the whole idea behind tax cuts and increasing income share for rich people and stagnating wages for everybody else. Only rich people can use money in a productive way. Giving it to the rest is just wasted.
- AlexandrB 5y agoI'm assuming this is a positive statement, not a normative one. I love how this undermines the basic functioning of the market via supply/demand. If demand is artificially restricted by taking money out of the pockets of consumers, how is "what to produce" decided? I think increasingly that decision is pseudo-centralized in VCs and other large investors who decide what businesses to fund.
- FredPret 5y agoLong term the system still works - if those VCs et al back bad ideas, they lose their money
- spaetzleesser 5y agoEven if the VCs lose money that money still mostly circulates among the wealthy and well connected.