Originally posted by EarthCitizen07
You are wrong. Way wrong. At least 50% of all the currency in circulation is held by the 1%!
I would like to see some documentation on that. In any case, even if it is true, it doesn't matter. I was discussing net worth, which has little to do with who has stacks of cash and who doesn't. Net worth includes everything of value that a person owns, minus their current debt obligations, and is a legitimate indicator of a given person's wealth, or lack of it.
It is called trickle down economics because a few crumbs fall off the table and the scavengers fight like dogs to prevent starvation.
First of all, there is not, nor has there ever been, a "trickle down" theory of economics. It is not a legitimate term in the science of economics--rather, it is a fiction created by detractors of the free market system, so that they can have something to sneer at when they give speeches.
Second....starvation?? Really?? Have you looked at the "poor" people in North America and in Europe recently? They are fat, which is not an indication of starvation and privation! Quite the opposite. Also, they have a roof, running water, vehicles, electricity, air conditioning, HD flatscreen tvs, computers/laptops and broadband internet access, dvd collections, satellite broadcasting 500 channels, stereo systems, cellphones. Some of them have above ground pools. Today's "poor" are, by the standards of 99.9999999999% of the human beings who have lived and died on this planet, fabulously wealthy.
So even though there is not a "trickle down" economic theory, you cannot possibly come to the conclusion that our system has been "trampling" on "poor people." Not if you have even the slightest bit of perspective of history.