@snood,
snood wrote:
I'm admittedly far from being any kind of an economist, but this makes sense to me. Wonder what y'all think about what's said here?
BINGO!
That is also why economists suggest there are economic multipliers in certain kinds of governmental money transfers.
Some, like payments to welfare recipients almost pay for themselves because they generate so much spending of the kind shown in that item of yours. The GDP gets a good boost from those kinds of transfers. It is thought that ALL transfers benefit GDP, but some, like military industrial spending, creates less than others, because so much of it ends up in the hands of the rich.
Stuff that goes to the rich often ends up as art in a bank vault.