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Old Yesterday, 04:56 PM
 
3,990 posts, read 1,558,817 times
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well, we agree that the wealthy (not rich) do not spend an approximate percentage of their income compared to the middle classes.
however, this is yearly income, not total assets which dwarfs income for the wealthy....essentially, how much is the
Queen of England worth if she sold it all? or the Sultan of Brunei?
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Old Yesterday, 05:56 PM
 
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Quote:
Originally Posted by Tencent View Post
Trickle down economics will never work. We tried it 3x.

RE: Bolded comment - No politician will ever adjust those outflows...

Yet the Pubs get snowed into voting for it repeatedly. Lets give the uber wealthy tax cuts while focusing your attention on brown man bad. Works like a charm.

After the Trump economy fails and the next Dem comes in to right the ship we'll be having this same conversation 12 years from now.
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Old Yesterday, 09:24 PM
 
Location: plano
6,629 posts, read 8,190,020 times
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Socialist disrespect capital declaring only know when a return on investment is too great. That is what all socialist countries and states do until the capital leaves and then sink. OP ignores how often investments fail to deliver any return. Wake up hate capital and try to make it your slave an you will see it flee and you wont have a pot to pee in.
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Old Yesterday, 09:28 PM
 
26,304 posts, read 28,743,717 times
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The problem as I see it is one of time horizon. Poor people generally look at things with a very short time horizon. That's why so many people win the lottery and are back to being broke within 5 years. Same deal with many sports stars. So simply having rich people spend all their money to increase the incomes of low and middle income people doesn't work if they just spend it and give it all back to rich people, which is essentially what happens.

People having more money typically doesn't change their time horizon.
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Old Yesterday, 09:38 PM
 
2,944 posts, read 1,196,507 times
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Quote:
Originally Posted by lieqiang View Post
So show us. Dramatic rants are all well and good, but let's see some numbers... how much does your average millionaire person spend and what arbitrary threshold have you set to be enough?
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Old Today, 03:15 PM
 
2,194 posts, read 642,432 times
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Quote:
Originally Posted by RationalExpectations View Post
Tl;dr
Did you watch the video link? That's the main reason I made this thread.

Quote:
Originally Posted by Drewjdeg View Post
...
Curious to see this for Chinese citizens and how much worse it is. They are screwed in terms of consumption.
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