Yes obviously productivity is vital, but what ultimately matters is the profit that is made off it. Without consumer spending, there is no profit. Once again, supply means jack shit if you don't have the demand to match it.
Yes, obviously rich people spend money, but you need to understand how many people in this country people actually are rich. It isn't very many. Sure the rich make extravagant purchases from time to time, but their daily/monthly spending is really no different from what the middle class spends each week/monthly. The wealthy and middle class spend about the same amount of money on basic essentials like food. That doesn't differ. the reason why the middle class is the driving force of consumer spending and not the wealthy is because there are many more middle class people than there are rich people. It's that volume that matters. The rich like sitting on most of their money. That's how we get billionaires.
Ok Captain Obvious...I just got through expressing that. No need to for you to repeat it unless you are trying to appear profound.
BTW genius...Without productivity( supply), there is no need for demand. To put it in simple terms. If there is no market for a product or service, there is no need for it.
The primary motivator is the idea. Ideas which if accepted, are produced as a good or service.....
There are 9.3 million people in the US that have a net worth of $1 million.....That's primarily liquid assets or intangibles...
There are most likely ten times that who have wealth in excess of $100,000 that they can access.....
So let's look at your assumption......"There aren't that many( wealthy people).....Based on that, what makes you think that jacking up taxes on the wealthy is going to have significant effect on government debt/deficit?
Secondly....ONE wealthy person spends the equivalent of some 20 to 50 middle class people.
And here we go...."The rich are sitting on most of their money".......And how is this the business of anyone else? And what difference does it make?
It is THEIR money. And lastly. You cannot prove it. So stop regurgitating this worn out progressive narrative talking point.
The middle class is for the most part doing fine. It could be better if not for the Obama economy( Taxes, Obamacare)...