Let’s see, Bill Gates borrowed $5000 and became one of the riches men on earth.. For door number 2, “What is the American dream?” “Imagination and courage/? You’re right!!”
Whether they spend or invest the money, rich people stimulate the economy. The only way for them to depress it is by hoarding the money in low interest accounts (or mattress).
However, when they buy lots of commodities, they raise the price - bad for the poor (though still good for the economy). Usually, however, they buy luxury items (fancy car, imported bottled water, first class air, etc) leaving the price of economy stuff low. Occasionally you’ll get jackass rich people watering their lawns in a drought. Frugal rich people like Sam Walton buy economy stuff, but sparingly, and invest the rest of their money.
The entity that destroys the economy by spending is the Federal government - because it doesn’t actually produce or invest anything.
lewisbower about 14 years ago
Let’s see, Bill Gates borrowed $5000 and became one of the riches men on earth.. For door number 2, “What is the American dream?” “Imagination and courage/? You’re right!!”
stuart about 14 years ago
Whether they spend or invest the money, rich people stimulate the economy. The only way for them to depress it is by hoarding the money in low interest accounts (or mattress).
However, when they buy lots of commodities, they raise the price - bad for the poor (though still good for the economy). Usually, however, they buy luxury items (fancy car, imported bottled water, first class air, etc) leaving the price of economy stuff low. Occasionally you’ll get jackass rich people watering their lawns in a drought. Frugal rich people like Sam Walton buy economy stuff, but sparingly, and invest the rest of their money.
The entity that destroys the economy by spending is the Federal government - because it doesn’t actually produce or invest anything.
SClark55 Premium Member about 14 years ago
This guy Schwadron better not ever waste his time switching to editorial cartoons - completely unaware of how things work -