Thursday, July 28, 2011

The utter Fail behind Progressive income redistribution

This is must-read stuff:
But the real money here is obviously in the consumption/investment categories.  You can redistribute consumption from the top 1% and give it to average Americans working in a car factory, or a Walmart.  But it’s an illusion to think you can redistribute investment from the top 1%, so that average Americans can have a higher living standard.  Where do people think the car factory comes from?  Or the Walmart building?  BTW, this has nothing to do with trickle-down economics, a theory I reject.  This is simple accounting.  Money put into investment projects isn’t available to boost living standards for the lower classes, unless you don’t do those investment projects.
Must-read stuff, via Aretae (who knows must-read stuff).


NotClauswitz said...

Kinda like the phony "stimulus" money - emptying one side of the pool to fill the other.

ProudHillbilly said...

I just don't get what part of "It's MY money!" they don't understand.

LSP said...

Debt problem? Unworkable demands to cut government spending and raise taxes?

Solution -- Confiscate all of Piers Morgan's money!

Drinks all 'round.