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comment by briandmyers
briandmyers  ·  3228 days ago  ·  link  ·    ·  parent  ·  post: Paul Graham: Economic Inequality

I suspect that a large portion of the wealthy's new money is magicked out of thin air by bank loans; however, if the very wealthy are paying less of the tax take now than they were before, then obviously the less wealthy are taking up the slack. The govt isn't spending less accordingly. :-)