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meta-david 💥| Building Scoop3
@metadavid
I was an economics major as an undergrad and was fortunate enough to study it at a school which 3 Nobel Prize winners in economics on its faculty, so I think about this kind of stuff a lot even though I'm not an economist by trade... The more I think about it, cutting taxes for the lowest-income earners puts money directly into the hands of those most likely to spend it immediately. Unlike tax breaks for wealthier individuals who tend to save or invest extra income, lower-income households use additional funds to buy groceries, diapers, etc.. Immediate increase in consumer spending boosts demand, helps businesses thrive, creates jobs, and ultimately drives economic growth. To me its not virtue-signaling -- I think it's just smart and sound economics.
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meta-david 💥| Building Scoop3
@metadavid
Also, even though I'm not rich, I wouldn't be a candidate to benefit from this policy. But I do think we'd feel its impact a lot quicker and with much more force than a general supply side approach of hoping & pray, somehow it all just works out.
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