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by FranzFerdiNaN
2224 days ago
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This isn't how the economy works. If thst was the case nobody would ever earn more, which of course isn't true. Wages are only a small part of a products price, and there also is enough evidence that for example raising the minimum wage does actually help people. For why it works, its simple: non-rich people spend any extra money, rich people don't do anything useful with their extra money. Which is also why trickle-down economics is a scam when its being presented as a way to help poor or average people. It does work of course as a way to transfer wealth from the poor to the rich. |
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Also, rich people don't do anything with their extra money? The exact opposite is true. Most of rich people's wealth is not in cash, it's in investments - while the average folk's extra money is "invested" in products that they can't afford, like the latest iPhone or a fancy house/car. No rich person that didn't just inherit their wealth lets their money sit in a bank except for a small percentage of their wealth, because they know it's a bad deal. How does trickle down economics transfer wealth from the poor to the rich? The poor should have wealth to begin with, in order for it to be transferred.