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Old 11-23-2020, 08:31 AM   #48
Benthic2
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City: Boston Area
Join Date: Feb 2017
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Quote:
Originally Posted by FF View Post
What is this assumption that only rich peoples spending simulates the economy?

Rich folks will spend vast bucks in the service economy which has a larger multiplier effect, than poor folks simply surviving.

A fancy dinner for 2 might cost $300 excluding wine , a frozen pizza would not employ as many folks.

A long distance first class ticket might cost $5,000 , which allows the $200 ticket in the Roach Coach to exist.

The $200,000,000 boat allows the boat yard to prosper to haul our small boats.
BUT......if you give a tax break to a low income person they will spend 100% of it. If you give a tax break to a very wealthy person, it doesn't change their behavior.....it only increases their bank account.
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