The rich don’t spend the money they have, and the poor don’t have money to spend.
This is a problem when 70% of the economy relies on consumer spending.
Closing our staggering wealth gap isn’t just the right thing to do. It’s essential to save our economy from collapse.
@rbreich Yes, I've been learning recently how the wealthy don't pay their bills. Musk highlighted it, but I've heard about landscapers who won't engage with projects costing over $1m because people with that much money tend not to pay them.
Companies do it too. Instead of paying for what they are buying, they pay their outstanding bill to be about to order more things.
Robert Reich
Gwyn
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