There’s a substantial assumption that the wealthy know best how to manage wealth and the economy but it’s all predicated on the notion that those wealthy people are willing to act in the interest of everyone, when in fact they tend to act on their own personal interest (I mean, if someone has a net worth of over a billion dollars and they’re trying to accumulate even more money, that should give you a good idea how their policy will affect people who are making 40k/yr). They tend not to want to create jobs or increase wages more than they want to improve quality of earnings, because they stand to lose a lot and they somehow want more
There’s a substantial assumption that the wealthy know best how to manage wealth and the economy but it’s all predicated on the notion that those wealthy people are willing to act in the interest of everyone, when in fact they tend to act on their own personal interest (I mean, if someone has a net worth of over a billion dollars and they’re trying to accumulate even more money, that should give you a good idea how their policy will affect people who are making 40k/yr). They tend not to want to create jobs or increase wages more than they want to improve quality of earnings, because they stand to lose a lot and they somehow want more