Sunday, December 30, 2012

"Fiscal Cliff" My Ass!

Personally, I think this entire "fiscal cliff" thing is a load of bullshit that's designed to raise taxes and do other unpopular economic things -- mostly to the poor / lower class and middle class -- while attempting to cover up the identities of exactly who did what.

I thought this was a very interesting article:


"Proponents of trickle-downism will argue that the little-taxed corporate executive will in fact share his wealth by spending it, and that his purchase of goods and services will drive economic growth more efficaciously than mere giveaways would. But it turns out that the executive doesn't spend more, or not enough more for his increased spending to be helpful to the economy $(Ofo (Br the simple reason that he doesn't need to. In the hands of rich people, money moves slowly. That's what it means to be rich: you have more money than the cost of all the things you need or want. A poor person, by contrast, needs more than he can afford. The poor therefore spend money faster."

[added emphasis is mine]

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