"But Dr. wouldn't that be a good thing. If the rich had a little less money and were not free to take such wild risks then the people would not be bailing out the Wall Street and the banks?" I puzzled.
"You are missing the point of our new global economy and unfortunately for you, I must go now. But I will repeat so that you finally understand that the rich must be free to take fantastic risks on Wall Street. If the people have money they do things like buy groceries, pay for housing, buy cars, buy clothes, send their kids to college, and all of the little things that will not create vast fortunes in this new global economy. The rich have to be protected so that they have the money to invest in risky investment instruments. When they grow their vast fortunes then we all benefit. That is why we can't tax the rich any more than we do now," he said.
So I said to goodbye to Dr. Reaganomics and headed out the door.
I was now confident that an expert had the right idea about taxing the rich. Sure some of what he said didn't seem to make much sense. But I do know that I want everyone to benefit and if bailing out the rich and not having them pay their fair share in taxes will help everyone then I am all for it. I am just not sure how that works, but fortunately we have experts like Dr. Reaganomics that know how it all works.
"You are missing the point of our new global economy and unfortunately for you, I must go now. But I will repeat so that you finally understand that the rich must be free to take fantastic risks on Wall Street. If the people have money they do things like buy groceries, pay for housing, buy cars, buy clothes, send their kids to college, and all of the little things that will not create vast fortunes in this new global economy. The rich have to be protected so that they have the money to invest in risky investment instruments. When they grow their vast fortunes then we all benefit. That is why we can't tax the rich any more than we do now," he said.
So I said to goodbye to Dr. Reaganomics and headed out the door.
I was now confident that an expert had the right idea about taxing the rich. Sure some of what he said didn't seem to make much sense. But I do know that I want everyone to benefit and if bailing out the rich and not having them pay their fair share in taxes will help everyone then I am all for it. I am just not sure how that works, but fortunately we have experts like Dr. Reaganomics that know how it all works.
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