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OfflineTheOtherAdamSmith
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Registered: 11/28/13
Posts: 40
Last seen: 10 years, 1 month
Re: Pope denounces trickle down economics [Re: zappaisgod]
    #19262056 - 12/11/13 07:07 PM (10 years, 1 month ago)

Quote:

zappaisgod said:
Not taxing business (tax breaks) is the opposite of meddling.  I don't know what other "economic benefits" means. 

Trickle down economics has nothing to do with the government at all.  It is the idea that people who make a lot of money will spend a lot of money and employ others down the line who in turn will spend money that employs yet others.  Wealth is not finite.




This has been proven incorrect though. Demand is what is important. People won't hire more people than they need and they only need more people if people have money to buy stuff. The largest businesses are sitting on trillions and have no place to invest. The wealth is stagnating and that's a problem. The race to the bottom the world over will continue this trend.


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