• WaxedWookie@lemmy.world
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    11 months ago

    If you give a billionaire money, they basically throw it on the pile.

    If you give the average American money - particularly the 57% that can’t afford a $1k emergency, they’ll spend it. That spending funds jobs, profits, and is re-spent again and again until it winds up siphoned off as shareholder profits and eventually added to the pile.

    • I_dont_believe_it@lemmynsfw.com
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      11 months ago

      Yeah but if you flood the economy with money by giving everyone a million dollars then you’ll have hyper inflation and the money will become effectively worthless and nobody will be better off.

      This is one of the ways billionaires can control countries. They have so much money they can literally affect the value of those countries currency by buying and selling vast quantities of it.

      • WaxedWookie@lemmy.world
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        11 months ago

        Except we’re not talking about the printing money - we’re talking about the wealthy leeching off the labour of others while pulling money out of circulation, acting as a predatory handbrake on the economy to the tune of a billion dollars vs putting that money in the hands of the workers that created the value, who will also spend it in a more economically stimulative manner.

        Everyone would be better off other than a very small few, who are functionally disconnected from the society they leech off in any case.