"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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That’s part of it, income taxes are in need of an overhaul. A person whose income is $500k pays the same income tax rate as someone who makes $50m.
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That being said, the rich do pay the majority of the taxes already. But the real indicator of the health of the economy is how accessible asset ownership is to the average person, IMO. As asset prices increase, debt makes up the difference, and most drown in interest payments.
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Vast majority of people don’t and can’t own stock. So the economy looks great if you’re one of the few that has capital.
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This is not true. Many people can own stocks, they just think they can't. There are DRIPS (Dividend Reinvestment Programs). Many brokerages have low minimums, and as of a few weeks ago, there are no more stock trading fees, which used to be a low $10 anyways.
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Taxes are useful for collecting money for the society as a whole. Otherwise no one would pay to build the first electrical grid, telephone system, national highways, public education, national defense, national parks, etc. I do wish the funds were used more efficiently, through.
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Unless the house is a new build, the house will probably be an existing home (like most real estate home sales). The contribution to the economy will probably come from new furnishings and appliances, and the spending will come in the future, not today.
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A stock price going up is just what happens first. AFTER your wealth and money increases, more can be spent and invested thus trickling to other areas
End of conversation
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