So Republicans are planning to explode the deficit in order to cut taxes on the wealthy. Nobody should be surprised -- but many are, Why? 1/
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Look at it like this, Will: Imagine a person who takes home $10 million in a year, after taxes. Milk still costs $5. Gas is still $3/gal. 1/
So they end up putting 90% of that money in savings. They sock it away. That removes that money from circulation in the economy. 2/
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Economies only work if money is *moving*. You can have the most money of any country in the world, but if it's not moving, economy dies. 3/
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And rich people/corporations don't hire people just because they have money. Jobs aren't charity. They hire people only if there's need. 4/
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What happens to money "in savings?" Where does it go
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It's not "removed" at all. Sir, the money goes into a bank where it can be loaned out at interest. This is basic stuff, my friend
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Ten tweet jest niedostępny.
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How can it be lent out x10?
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Ten tweet jest niedostępny.
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Bingo. That's the thing: This isn't that complex.
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Banks don’t sit on the cash...they invest it with mortgages, bonds, etc. You are overlooking part of the cycle, making saving look negative.
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That investment crashed the entire economy in 2008.
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Wydaje się, że ładowanie zajmuje dużo czasu.
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