"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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Isn't the question, then, "how do the investments NOT trickle down?" I don't think anyone is suggesting the money isn't invested, just that the investments aren't ultimately turning into money in the pockets of the 99%.
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Only bcos of idea that nominal value units (ie quantity of dollars) = wealth It doesn't. Money =/= Wealth. More *real wealth* is produced & the *nominal value* is irrelevant. How much your cell cost you? What's it capable of? How much a cell cost in '90? What was it capable of?
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If rich people do not invest, they would be paying the invisible tax call inflation. Which comes mainly from government issuing new currency to pay for stuff. During inflation process government gains money, you lose money. Isn't that a tax?
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For most people is hard to picture, since the government is not debiting money from your account but instead decreasing the purchasing power of your account balance, and increasing theirs by issuing new currency.
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The taxation on financial investments is low: no trickle down. A lot gets invested in real estate: house prices rise, rents increase. Lawyers offer tax evasion schemes: No trickle down. No level playing field. Sorry.
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It's probably not hoarded... but it doesn't trickle down, it trickles sideways. They invest in financial assets & start ups which support the upper class... middle class "main street" businesses don't have the same return potential & how could it ever hit lower class laborers?
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