"trickle down theory" seems obviously correct to me. Like, if a person has lots of money, it's stupid to sit on it - they invest it, found businesses, hire people, buy things - all of which are putting money back into lower tiers of the economy to me. Am I missing something big?
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It sounds fantastic in principle. But, the people who should be moving the money just sit on most of it.
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But are they actually sitting on it? If they were then this might change my opinion. Do you have any sources or something
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Poor people spend every penny they get to basic needs while rich people have more incentives to not spend all their money.
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Rich people have incredible incentive to spend their money are you kidding me? I'd guess they might have even more than poor people, if you assume rich people are more fiscally driven/greedy than poor people on average
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Most of the money saved in big business tax cuts goes towards stock buybacks which raises the price of the stock but does little else for the economy. the money does not “trickle down” to the lower ranks of the company it stays at the top.
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You're missing that they are literally sitting on it about 80% of the time.
Deep dive into the Panama Papers.
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But that just seems retarded to me. Sitting on money is so dumb I have trouble believing rich people with access to the best financial advisors would do that.
Unless the tax burden is discouraging them from reinvesting into the economy?
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Rent seeking doesn't seem to have much to do with this imo, could you connect it more explicitly?
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