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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (15846)	4/22/2017 7:11:41 PM
From: Lane3	1 Recommendation Recommended By TimF Read Replies (1) \| Respond to of 365165

I figure that as long as the government puts that money back into circulation. the multiplier effect and increased velocity of money, economic terms meaning "my gut instinct", will create new wealth. If the billionaire foregoes income because, knowing that it will virtually all go to taxes, it's not worth the risk and/or effort to earn it, there is no income, hence no tax, hence nothing for the government to put back into circulation. He is poorer and the nations coffers are emptier. Your gut velocity would play only if he were stupid enough to make the effort and take the risk rather than sip umbrella drinks on some beach or make a life and a living for himself in some country that wouldn't confiscate his income. It's possible that his lack of work might fall to someone else and that person would have taxable income. If the foregone income, for example, might have come from a restaurant chain he might have started, some other entrepreneur might have filled the gap and would be taxed and, er, velocitized. But if the income would have come from a development on his own choice land, now left empty, that economic activity is lost. Nothing there for the government to put into circulation in his stead.