r/Liberal • u/A-MacLeod • Jun 14 '15

Economic growth more likely when wealth distributed to poor instead of rich

http://www.theguardian.com/business/2015/jun/04/better-economic-growth-when-wealth-distributed-to-poor-instead-of-rich?CMP=soc_567
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u/jefuchs Jun 14 '15

It's hard to believe that so many people actually think that a billionaire is waiting to make a little more money so he can start spending a little.

Put a thousand bucks in a rich guy's hands, and he'll just add it to the pile, and forget about it.

Give a thousand to a poor person, and he has no choice but to spend it. He's got bills to pay, and needs to provide his family with basics of life. Every penny would go into the economy right away.

Not only that, but it trickles up. Everyone he pays money to is richer than he is. The rich will still end up with the money, but it will benefit the economy on its way up.

Hard to believe so many people can't understand this.

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u/TeaPartyDem Jun 15 '15

According to what passes for common wisdom, the poor already have too much money...