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It doesn't matter who has what money, it matters how fast and quickly they spend it. Read up on the "velocity of capital", and you'll see that the raw amount of dollars is so much less important than how much it is spent.
If every billionaire suddenly died and their cracked out kids all inherited it, then blew it on insta-trips and cocaine we would have a massive economic boost. If everyone of the poor people in the US all bought booze with all their disposable income, we would have a massive economic boost.
Do you ever wonder why it seems like the government programs conservatives all lose their minds over really do let poor people buy non-survival items? Because it doesn't matter at all what they spend money on, as long as they spend it.
One mans wasted dollars are another's income
Is there a limit to this? Of course. We can screw over the billionaires as much as 99% of whatever China is doing (if you think they aren't doing these policies.... lol)
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- 10 months ago
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