Well, according to the Associated Press, the rich are finally beginning to “share your financial pain.” (It’s about time!)The rich are hurting, my friends; they are scraping,they are scrimping. They aretrying to make ends meet just like you do.
Want to know how bad it is? They’re investing their dough more conservatively. They’ve cut back on all sorts of luxury items,and they’re pulling back on their credit card spending. Some have degraded themselves by asking their personal shoppers to look for bargains. They’re deal hunting! Others are even directing their private-jet staffs
One guyhas sat by helplessly while the price of his Long Island mansion dropped from 9 millionto 7 mil. Times are tight for these people.
Now,I realize this news will thrill you liberals,but don’t celebrate yet. The scrimping rich, according to AP, are contributing to your economic woes. Because when the rich stop spending money like water,everybody else’s money dries up — it ripples through the economy. AP says: “The problem is that when the wealthy get stingy, it trickles down to the rest of us.”
Shazaam! It’s the old trickle-down, supply-side economics that liberals say doesn’t work when it comes to cutting taxes for the so-called greedy rich. But nowthe wealthy are “stingy,” and– magically– trickle-down economics makes sense. Go figure.
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