Re:Tillis Releases Text of Bipartisan Legislation to Fight I...
by aequitas on Tuesday December 22, 2020 @10:53AM
(#25507492)
But think of the trickle down effect. If rich people can't buy yachts, a rich yacht manufacturer can't reap profits while paying minimum wage to it's workers.
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Re:Tillis Releases Text of Bipartisan Legislation to Fight I...
by lukifer on Tuesday December 22, 2020 @01:42PM
(#25509629)
This is the hat-trick of the "job creator" myth. Narratives have no numbers attached; the quantitative delta between luxuries, and the jobs they allegedly create, belies real economic energy transferred from those living paycheck-to-paycheck, to those who signify status through conspicuous consumption.
Don't get me wrong: I'm not saying every purchase needs to pass some utilitarian moral litmus test; and sometimes luxury spending can have positive externalities, particularly when it incentivizes innovation. But we shouldn't pretend that gold-plated helicopters are inherently a win/win/win just because some subsistence wages got paid along the way, when we could have collected the same revenue as taxes and paid those wages for building infrastructure instead.