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In reply to the discussion: Something weird has happened to Kansas... [View all]Notafraidtoo
(402 posts)They believe that if the wealthy and upper middle class have extra money they will invest and spend, the problem is they make too much to spend what they have, they have everything they want and dream about buying already, extra money isn't going to make them want more things. It's true they might often invest, but the earnings they make on those investments which often come from productivity ( lower labor cost) are not spent either, which has a horrible effect of taking from those that will spend and give it to those that don't. The wealthy just don't spend enough, that's why they need to be taxed and forced to pay their workers more, hording money is a huge problem in a capitalist democracy and is often done for no other reason than irrational fear.
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