12-24-2020, 03:59 PM
You know why Trump wants to make the Covid relief checks $2,000 instead of $600? Because of "Trickle Up" economics.
First of all "Trickle Up" economics only applies when the government is the source of the stimulus. It would not be acceptable to use tax money collected from the wealthy to stimulate the economy Instead it has to be funded by government debt.
When the government prints $2000 and gives it to a poor or middle class person that money will most likely be gone pretty quickly. So many people are struggling financially that very few of them will have the opportunity to invest that money to make more money.
But all those trillions of dollars of new money get spent over and over again mostly on products and services from corporations. So the stock market flourishes with large corporate profits. And corporate equities like stocks and bonds are owned by the wealthy. The top 1% of wealthiest households control about 70% of the wealth in the stock market and the top 10% control close to 90%.
And that is how trillions of dollars in government debt created to benefit the poor and middle class TRICKLES UP in0 the pockets of the wealthiest household in America.
First of all "Trickle Up" economics only applies when the government is the source of the stimulus. It would not be acceptable to use tax money collected from the wealthy to stimulate the economy Instead it has to be funded by government debt.
When the government prints $2000 and gives it to a poor or middle class person that money will most likely be gone pretty quickly. So many people are struggling financially that very few of them will have the opportunity to invest that money to make more money.
But all those trillions of dollars of new money get spent over and over again mostly on products and services from corporations. So the stock market flourishes with large corporate profits. And corporate equities like stocks and bonds are owned by the wealthy. The top 1% of wealthiest households control about 70% of the wealth in the stock market and the top 10% control close to 90%.
And that is how trillions of dollars in government debt created to benefit the poor and middle class TRICKLES UP in0 the pockets of the wealthiest household in America.
