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RE: How the top 1% can harm the economy
eh, it's best not to parse humanity into wealth groups and think of one or the other as doing something in collective, like helping or harming the economy. Spending / consuming isn't the only function of an economy; saving, investing, creating new production, etc. also play big roles.
What we really need is renewed growth, agnostic of any demographic segment:
https://johnhcochrane.blogspot.com/2015/10/economic-growth.html