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- Jan 2020
the rich pocket, rather than reinvest, their tax cuts
Or they reinvest a smaller than expected fraction of it?
It would be great to see some data on this as the intuition can go both ways. One argument says -
- Rich do not pocket their wealth, they spend it on overpriced luxury items and long term invesents (really?), whereas working class people spend it in short term purchases for livelihood which does not have as much of a ripple effect on the economy.