economics question pls help?
RUBoi asked: how can wealth creation reduce poverty, and how can it create poverty.
Bradley
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on Tuesday, October 28th, 2008 at 7:51 am and is filed under Wealth Creation.
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October 30th, 2008 at 6:39 pm
Wealth creation can reduce poverty by the government increasing taxes on those who have the wealth, it can create poverty by neglecting the middle class, which is what is happening RIGHT now
November 2nd, 2008 at 2:03 pm
Wealth Creation CAN reduce poverty.
By making people wealthy (by lowering taxes) People will spend that money. The wealth they spend will create jobs. Creating Jobs reduces poverty.
By increasing taxes and giving the money away to the lower or even middle class the wealthy will not spend as much and that won’t be good for companies so the companies will lay off workers to keep making a profit (and not go Bankrupt completely) and that will increase poverty.