The War On The Rich

Why supply-side economics works.

The criticism of supply-side economics goes like this:

Giving tax cuts to the rich doesn’t really help the economy because they don’t spend money with the same frequency as the poor do. Or put it simply: if the government gives $1M to 1 rich family they will not buy 100k pair of shoes, but if they give $1M to 100k poor families they will probably buy 100k pair of shoes.

Although it’s true that one rich family will never buy 100k pair of shoes, given they don’t have 20 daughters and/or 3 wives, it’s also true that rich people do something else that helps the economy: they create jobs. A lot of jobs.

Don’t believe me? Well then, let’s look into it. Below are the 10 richest person in the USA:

• Bill Gates — $89 billion
• Jeff Bezos — $81.5 billion
• Warren Buffett — $78 billion
• Mark Zuckerberg — $71 billion
• Larry Ellison — $59 billion
• Charles Koch — $48.5 billion
• David H. Koch — $48.5 billion
• Michael Bloomberg — $46.8 billion
• Larry Page — $44.6 billion
• Sergey Brin — $43.4 billion