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URL:  https://boards.fool.com/howie-writes-iampops-quoti-think-you-brucecm-34335301.aspx

Subject:  Re: Social Security COLA for 2020 Date:  11/4/2019  5:31 PM
Author:  intercst Number:  21446 of 21951

Howie writes,

iampops: "I think you {BruceCM} inadvertently painted a very ugly self portrait with your post. "

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Nonsense!
The point made is that people do not develop habits that will lift themselves out of poverty
or hardship by government "gifts".

</snip>


I think this is more of a cultural thing. You've got large swaths of the country where folks are willing to cut their own throats as long as blacks, Hipsanics, and "undeserving" whites suffer even more. If that was the secret to growing the economy, Mississippi and Alabama would be as rich as Switzerland.

But the fact remains that about 70% of the US economy is consumer spending. So if your goal is to spark growth, the most efficient way to do that is to put money in the hands of poor people who will actually spend it on goods and services. Borrowing an equivalent amount of money, and giving it to billionaires in tax cuts (as we did in December 2017) and hoping the crumbs will filter down to the poor folks who'll spend it is going to leave you disappointed in the result.

intercst
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