Re:Taxing the Rich to Fund Welfare Is the Nobel Winner’s Gro...
by xbmcuser on Thursday December 26, 2019 @04:07AM
(#21882722)
Most do behave like Scrooge McDuck they park the money in real estate, bonds, stock and gold. If the billions of dollars tax breaks the very rich get were spend on the poor it would stimulate the economy and would create jobs a lot more. The way the economies of most countries work these days is 90%-10% is the take of rich and poor. But as poor have to spend all they have and rich don't. The wealth keeps shifting towards the rich if it is 90%-10% today it will be 95%-5% 5-10 years from now.
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Re:Taxing the Rich to Fund Welfare Is the Nobel Winner’s Gro...
by Turing_Machine on Thursday December 26, 2019 @06:16AM
(#21883110)
> Most do behave like Scrooge McDuck they park the money in real estate,
Which, besides providing places for people to live, also generates property taxes every single year. Forever.
> bonds,
Which fund our roads, schools, public utilities, libraries, hospitals...
> stock(s)
Which fund the companies that produce all the essential (and luxury) goods and services we need for a modern lifestyle, and provide the vast majority of jobs.
> and gold.
Very few large investors put their assets in precious metals. The prices are quite volatile, and precious metals don't generate interest, dividends, or rents (like the aforementioned bonds, stocks, and real estate).