"Ideally, all those savings would be channeled into productive investments such as research and development, or practical equipment, or new roads, or even new
yachts--investments that would promote growth in the economy."
It's important to keep in mind that even when that money is spent, there's no guarantee it'll be spent domestically.
Just as an example, Jeff Bezos bought his $500 million superyacht from Oceanco, a Dutch yachtmaker.
Increasingly, the ultra-rich are, like many of the companies they control, multinational.
It's important to keep in mind that even when that money is spent, there's no guarantee it'll be spent domestically.
Just as an example, Jeff Bezos bought his $500 million superyacht from Oceanco, a Dutch yachtmaker.
Increasingly, the ultra-rich are, like many of the companies they control, multinational.