This is all true with individuals but not with the government. With the government how much is spent is not nearly as important as where it is spent. If, say, you give a trillion dollars to the bottom 70% of the economic class, they are going to spend it like crazy, generating huge tax revenues and driving the general economy in ways that will benefit both Wall Street and Main Street.

But if you give that same trillion dollars to the top 30% of the economic class (as is too often the case) only Wall Street and the millionaires will prosper because a huge chunk of it will simply be frozen in offshore bank accounts that do nothing for the general economy.

Jim Ridgway, Jr. military writer — author of the American Civil War classic, “Apprentice Killers: The War of Lincoln and Davis.” Christmas gift, yes!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store