Reply #18: no [View All]

[Two Americas]

If the incomes of the wealthy stagnate, there is more income in the lower brackets, more tax revenue there, and less need for public services.

Capital does not produce wealth, labor does. Your effect would only be true if it were capital that produces wealth. This is easy to understand. If all of the capitalists and investors disappeared, the rest of us would keep working and would survive. If, on the other hand, all of the workers disappeared, the investors and financial people would not survive (unless they went to work). No workers, no wealth produced for the investors and capitalists to play with.

We, the workers, the producers, are not dependent upon the wealthy. The wealthy are dependent upon us.