TRICKLE UP DEFIES GRAVITY

[Yekcidmij]

but the rich will not add it to the economy, they will put it in the bank to do nothing

Of course the rich typically don't hold their assets in a bank deposit. But let's say they do for the sake of argument. What then does the bank do with it? Stuff it in a vault? Nope. It counts as part of the banks capital, which is in turn lent out with some fraction left in reserve. Storing your assets in a bank account wouldn't "remove" it from the economy.

 

[OldWiseGuy]

I hate to disagree on something like this,
but have you ever watched Watters' World?

Watters goes to "Stupidville" for his interviews. Those people even look stupid.

 

[OldWiseGuy]

The irony is that private spending is more harmful to the economy than government spending. Citizens and immigrants send $600Billion or more out of the economy each year by buying imports and drugs, and sending cash home. This starves the economy of money and the government must make it up through more borrowing, and thus more debt. Then everyone blames the government. That's like blaming the fire department when your house burns down.