4 ms·
I took ECO-101 in 1987, among other basic tenets I learned that wealthier people have more / a majority of their money in savings, poorer people necessarily hav
by zzzeek 3y ago
I took ECO-101 in 1987, among other basic tenets I learned that wealthier people have more / a majority of their money in savings, poorer people necessarily have to send the money they make back out to buy things. Things are very expensive and wages are not that great for most people, so there you go. nothing "eye-popping" about this.
What's "eye-popping" is that it's more effective for economic stimulatory actions to put money in the hands of lower income people, where that money goes right back into circulation providing sales tax revenue at the state level and federal tax revenue at the merchant income level, rather than in the hands of wealthy people / billionaires, where that money sits in an account in the Cayman Islands and does mostly nothing in comparison.