Steve CoxKonto zweryfikowane

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/

Paul Krugman, economist, thinks economies are static. Wealth creation is spurred by investments and savings. Not by govt's wasteful spending

Wealth creation is spurred by both. And if we "make the pie bigger" but all of the pie growth goes to 1% of the people, what's the point?

Wealth creation is not spurred by government spending. The money must be taken from elsewhere. Wealth creation in the economy.

That's simply not true. When properly managed, every dollar of tax money put into an economy results in anywhere from $1.50-2.50 in growth.

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/

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/