Jan 31 2009
∞
“ If you somehow take that bonus out of the economy, it really will create unemployment. It means less spending in restaurants, less spending in department stores, so everything has an impact
—
Rudy Giuliani, who seems to have just defended exorbitant Wall Street bonuses as a welfare for the super rich. Afterall, if the super rich run out of money, they’ll have a hard time being super rich—which means that businesses that cater exclusively to the expensive whims super rich will be in trouble.
Mr. Giuliani apparently subscribes to the toilet flush theory of economics. Dump in water at the top. The wealth doesn’t exactly trickle down—it just goes around in circles, keeping some rich turds afloat, until it builds up enough force to send everything down the tubes and into the sewer. Also, it stinks.
(via squashed)
(via nociva)
