Comments by "whyamimrpink78" (@whyamimrpink78) on "Economists: Marginal Tax The Rich 90%" video.

  1. No, economy is supply, demand and consumption.  Money isn't some finite resource, money is nothing more than just green pieces of paper and numbers on a screen with an arbitrary amount.  Creating more flow of money doesn't help the economy if there is nothing to consume.  You can't consume what you don't produce. In the market you have demand: People will always demand better and more affordable goods and services.  That is why businesses push for that and is why we have seen rapid growth in technology to where a pocket calculator cost $200 in the 80s, but 30 years later we have a smart phone with internet access, and a camera for $200. Supply:  What you have to consume.  If you don't have what society demands than people can't get it. Consumption:  What supply people consume.  If the consumption rate of something is high than the price will go up if the supply is low.  If the supply is high than we don't have a problem.  If more people had more money then consumption will go up increasing prices leading to mass inflation.  We have seen this in Zimbabwe and with the Romans in the past.  The $20 in my wallet is worthless until I agree to trade it with someone to gain something.  I trade it for gas in my car.  Now I have something to consume.  If you give more people money that will be more gas being consume, but the supply of gas doesn't go up, only the supply of money thus making gas more expensive.  So now I get less gas for my $20. It all comes back to that you have to realize what money is to see how flawed this argument of higher taxes is.
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