United States | News & Politics

I'd change it to poor people don't have disposable income and therefore can't save money. If you're poor, 100% of your income goes to just making it through another week.

Understanding that simple fact reveals the flawed logic in so many conservative economic positions. If you give $100 to a billionaire, they'll put it in their offshore tax haven, but if you give that same $100 to a poor person, they'll spend it, so someone else can spend it, and that's how you maintain an economy. I wouldn't be surprised if this "50% of spending" figure has less to do with rich people spending more and more with poor people spending less as the screws get tighter, it's not like the rich just suddenly decided they need more stuff.