Quote:
Originally Posted by camaropete
I would agree with that statement. But as a whole, who spends more money: someone who makes $35,000 a year or someone who makes $350,000 per year? Even when that "wealthy" person invests money, they are essentially "spending" money by introducing more money into the system.
|
Wealthy people MAY spend more as a whole on more expensive items but not nearly enough nor often enough to create jobs for the other 90% of our citizens. I say may because again, I have a few friends that I would call very wealthy and they are the cheapest people I know. And investing is nothing like spending on tangible items, I hope this is a good analogy, buying stocks in a toaster maker is nothing like buying a toaster. At this point in our history we have to many toaster makers and not enough people buying toasters. The bottom line is to much wealth has been consolidated into to few hands and that is the root of the problem.