Ramit Sethi rips ‘lie’ that tax cuts for the rich are good for jobs, says conservatives trick you to serve the wealthy

Economic Theories and Taxation - A study of 18 OECD countries indicates that major tax cuts for the wealthy do not significantly enhance growth or employment, but do increase income inequality [1][3] - Critics argue that the theory of trickle-down economics has been debunked, while some economists believe the benefits still exist but are less pronounced than previously claimed [1][2] - Sethi's critique emphasizes a demand-side perspective, suggesting that job creation is driven by consumer demand rather than tax relief for the wealthy [2][3] Perspectives on Tax Cuts - Sethi argues that tax cuts for the wealthy do not lead to job creation, as he tends to save the money instead [3][6] - Schiff presents a supply-side argument, claiming that reducing taxes on the wealthy stimulates economic growth by freeing up capital for business expansion [4][5] - The debate highlights a divide in economic thought regarding the impact of tax cuts on different income groups [8] Investment Strategies - Sethi promotes long-term investing as a means to build wealth, emphasizing the importance of assets over income [9][10] - The S&P 500 has historically provided around 10% annual returns, making it a strong option for wealth growth [12][13] - Real estate is highlighted as a valuable asset class, with the S&P CoreLogic Case-Shiller U.S. National Home Price Index rising 45% over the past five years [17][19] Accessibility of Investment - Investment platforms like Acorns allow individuals to invest in the S&P 500 with minimal amounts, promoting accessibility for all income levels [15][16] - Crowdfunding platforms such as Arrived enable investments in rental properties with as little as $100, reducing the barriers to real estate investment [20][21] - First National Realty Partners offers accredited investors opportunities in commercial properties with a minimum investment of $50,000, providing a way to diversify portfolios without landlord responsibilities [22][23]