$10,000 marginal dollars to a person making $50,000 is going to contribute more to inflation than giving it to somebody making $200,000, because the lower income person is probably going to spend more of it while the higher income person is more likely to save/invest more of it.
I'm in favor of rewarding labor and work and incentivizing lower income people to work with higher wages. I'm also in favor of taking the money that we've been putting into stupid shit like Uber and Instagram and instead using it to build roads, bridges, transit, and housing instead. People making $15-25/hr are going to benefit by investing in the latter both through finding work and getting something.
Previous Message
Over the last decade/couple decades, the rich got incredibly richer. Just hoarding wealth in the top half percent, and definitely within the top .1 percent. No problems with inflation.
Now you give a little money to the working class and it’s a huge issue for inflation and the economy. I’m not an economist and don’t pretend to be, but there seems to be something structurally wrong with that. As it stands today, is there a way to reduce poverty and living conditions for the low-to-middle classes without “hurting” the economy? If yes, what’s the mechanism? If not, that’s ####ed up.
Previous Message
Previous Message
who knew it could happen?
Next thing you'll tell me is that a lifelong Republican FBI director would hold multiple press conferences about his investigation into a Dem candidate but not disclose his investigation into her Republican opponent.
Or that a lifelong Republican special prosecutor would find factual evidence of crimes by the Republican President but make no recommendations about criminality and then allow himself to be sandbagged during hearings about said report!