General Discussion
In reply to the discussion: The USA only has one fiscal problem: Lack of political will to tax those who have all the money. [View all]ProfessorPlum
(11,461 posts)that's the problem with trickle down economic thinking.
Look, if you are a rich person, you already buy what you need. You don't have to wait, you have the money to buy what you need already.
The government gives you more money. What are you going to do with it? Trickle-down, supply-side economists say you are going to spend it. But that's moronic. You have already satisfied your needs and wants. That money is going to go into a bank, or go off shore.
The "high dollar shit they buy all the time" is already happening, before tax cuts. Tax cuts just give them more money not to spend.
Tax high income earners, and give that money to low income people, and it will get spent and spent and spent again. give it to a high income earner and it goes in a bank and grows moss. (it might also be invested, by a rich person or a bank, but when too much money is doing this we get bubbles that grow and burst and kill the economy even more).
It's getting the money _flowing_ that matters, not trying to make a dent in the debt - flowing money means a healthy, big economy, and that means more taxes for the government.