, 4 tweets, 1 min read Read on Twitter
People who believe in trickle-down economics generally seem to believe that, if you give money to poor & middle class people, it vanishes from the economy. As if the poor people eat the money and it turns into poverty, but if you give it to the rich, it turns into wealth.
In reality, money given to the poor becomes consumer spending: it goes instantly into the coffers of enterprises and individuals that provide things people need. Money given to the middle classes can also become investment—just as it would if given to the rich.
So when you give more money to the rich, what you're really giving the rich is more power over where to invest the extra value in the economy; broadly, over our economic future. Basically, "Trickle-down" theories assume the rich make better decisions.
Put another way: Trickle-down economics is based on the assumption that plutocracy is generally better than democracy—SO much better that it's worth letting the poor and middle-class suffer in the short-term for the great benefits plutocracy will bring in the long term.
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