TED talk: It's the middle class consumers, not the rich who create jobs

[Ziploc Surprise]

Ok, the business and finance world is not something I know much about but here's overly simplistic take on the situation. If it helps, imagine that I am writing this in crayon. This year when we did our tax return many of the deductions that had been available to us in the past were not available to us this time because they nixed these deductions. Had we had that money we would have spent it, thus creating more demand. I am one person with a very small home business. There are many many more people like me. Most of us would have spent the money that the government took from us this year. Collectively that's a lot. and it's just a tiny example in a sea of many such examples. Perhaps the speaker has it right. I don't know though.

You never think of hoarding your money? Like putting it in a bank for future use? You have immidiate need to spend it?

I have a regular savings. The money I would have gotten back would not have been much but would have gone towards a home repair that we will have to wait on until there's money. Other people, especially a lot of people I know, would have not had a single thought of putting it in savings or putting it into a need (or future need). This is the way of the world.

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You never think of hoarding your money? Like putting it in a bank for future use? You have immidiate need to spend it?

I have a regular savings. The money I would have gotten back would not have been much but would have gone towards a home repair that we will have to wait on until there's money. Other people, especially a lot of people I know, would have not had a single thought of putting it in savings or putting it into a need (or future need). This is the way of the world.

BTW the point of the TED talk was the tax savings going toward the middle class vs going toward the very rich.