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I feel like the part we always skip is why it's so easy to believe trickle-down economics works.
When you have limited discretionary income, of course you'll spend more if you have access to it. You'll buy healthier food, do fun things for your kids, eat lunch out, etc... https://twitter.com/lindyli/status/1358123019600879616
When you have limited discretionary income, of course you'll spend more if you have access to it. You'll buy healthier food, do fun things for your kids, eat lunch out, etc... https://twitter.com/lindyli/status/1358123019600879616
...move up the ladder a bit and you might drop off clothes to get cleaned, get more take-out, have someone come in to help with chores.
We'll just give it to the top then and let it run down to everyone, right?
Wrong! Behavior changes with overwhelming financial security.
We'll just give it to the top then and let it run down to everyone, right?
Wrong! Behavior changes with overwhelming financial security.
There is a diminishing rate of return - when you have more discretionary income than you can reasonably use, you DON'T engage in that behavior.
They just hoard money, which helps no one.
Push from the bottom up until you hit diminishing rates.
Push up > trickle down
They just hoard money, which helps no one.
Push from the bottom up until you hit diminishing rates.
Push up > trickle down
