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by stale2002 3560 days ago
If people don't spend their money that is wonderful!

They did a whole bunch of useful works and in exchange accepted a bunch of green pieces of paper for that work!

They never consumed any resources, just ones and zeros in a computer.

Instead of paying 40 percent in taxes, they paid 100 percent!

1 comments

Obviously you're being sarcastic - you're right, the money gets spent eventually. But not by the billionaire. It gets spend by his kids, and his kid's kids, and so on, for generations. Meaning money that should have been taxed once in a single year is instead taxed over the course of 200 years and increasingly so on tax-exempt consumption. Meanwhile, that tax-free money is being used to invest in rent-seeking enterprises, meaning the cost of living for everyone else is being driven up. It's essentially a free loan from the US government for decades upon decades.