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Reaganomic theory is being discussed again (another election already?). Allowing the wealthy to keep more money in order to spend more of it so it will flow through the economy does not work.
Wealthy people already spend less than they earn (it’s why they are wealthy), making Reaganomics erroneous. While good spending habits are a good idea, giving the rich more money believing this will stimulate the economy is counterproductive when they increase their savings rather than their spending.
Rich people should not be viewed as a mountain that water flows down from; they’re the ocean that it flows into. Throwing fresh water into the ocean is pointless, especially when people are dying of thirst.
Dennis Kostecki
Mammoth Lakes, Calif.
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