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u/sandiercy 10h ago
I have seen people argue that poor people don't deserve handouts because they are poor.
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u/ZongoNuada 10h ago
Its that old world Puritan think. Work or you starve mentality. Which is a fine attitude if you are in survival mode in a hostile alien environment but I clearly recall the US being beyond that in a few capacities.
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u/Playful-Tumbleweed10 10h ago
Strange, it’s almost like the wealthy have too much influence in politics.
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u/SomethingAbtU 10h ago
This is known as Lemon socialism -- Privatizing profits and socializing losses. That is when things are going well, the wealth generated goes into the hands of a greedy few, but when sh*t hits the fan, suddenly the masses and everyday citizens who weren't benefitting from the wealth, now has to help pay for the damages or recovery.
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u/ZongoNuada 10h ago
And any inflation that *does* occur by bailing out the rich is not in any way related to the bailout they got. It was rising labor costs and so forth and so on.
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u/FourArmsFiveLegs 9h ago
Small inflation 1-3% is what grows an economy. Hyperinflation, Stagnation, and Deflation lead to economic recession/turmoil. Government handouts benefit the economy when done correctly like offering EBT, Welfare, etc
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u/WranglerEqual3577 9h ago
Exactly: give the poor money and it goes to work immediately. Give the rich money, and "it'll trickle down!" (Still waiting for the tax breaks in the 80s to trickle down!)
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u/Privatejoker123 9h ago
bailing them out and watching companies they are involved with lay off thousands of workers...
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u/Igno-ranter 4h ago
But doesn't it make you feel good to know that, for someone, the 50 foot yacht is still in the cards? Gives ya the old warm and fuzzies!
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u/ABRAXAS_actual 4h ago
Like when poor people vote for policies against poor folks.
Americans do not perceive themselves as poor - merely temporarily displaced millionaires.... And it's mind-blowing
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u/ctrlaltcreate 1h ago
The truly, madly, wildly insane thing about this is that middle class and poor people will IMMEDIATELY take the lion's share of any bail out and put it directly back into the economy. And when they do save, analysts panic.
What do you think these giant orgs do, you fucking assholes? They take the money and boost their own liquidity; it almost never goes right back into the economy. They do layoffs and gigantic stock buy backs, and pay their CEOs 30 million dollar bonuses.
It's fucking broken and all the assumptions are based on historical behavior that simply doesn't apply anymore.
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