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Originally Posted by evollove
Thanx. Clearer.
But:
1.) Were exorbitant pensions really one the causes of economic instability in Europe, or was that a bullshit excuse? I realize the collapsed housing market set off an awful chain-reaction, but did pensions contribute at all?
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No, in Greece rampant corruption and in Spain relying too much on a housing market bubble (hey California sound familiar?) caused their more immediate impacts.
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2.) If the theory that more money in pockets stimulates the economy, it seems having the wealthy pay little to no taxes follows the same logic, only on a larger scale. Why is this not accurate?
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No because the wealthy don't spend their money on groceries, consumer goods, and bills, they spend it on investments and savings and long term profits, hence why trickle-down doesn't work in the short or long term.