Just a random reminder that trickle-down economics was invented by conservatives in the 1980s to justify massive tax cuts for the wealthy and corporations. It’s been nothing short of a disaster.
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Don’t forget about Jack Welch and his fuks that invented downsizing of corporations which we are now seeing reinvented inside the federal government. It’s how maga became so mad in the first place. Now they don’t know if they are coming or going. They are doing it again MAGATS!!
I'm not sure "disaster" is applicable. After all, it worked EXACTLY as intended. "Trickle down" was never anything but a cover story.
The devastation wrought by conservative "policies" is not an indication of their failure - it is clear proof of their success. And that is much more damning.
When young conservatives tell me they can't afford anything because of 4 years of Biden. I say no, you can't afford anything because of 40 years of Reagan's trickle-down economics.
These days, MAGA doesn't even call it trickledowneconomics anymore, they are not even ashamed these massive taxcuts are meant to make the ultrarich richer. They say it openly.
It's like Marxism: assuming people will be willing to share the wealth. Delusional thinking. We are where we are because of Reagan. May he burn in hell with is girlfriend Thatcher.
The Confederacy has been in an existential rage since the passing of Civil Rights Act where liberalism finally course corrected. The libertarian trickle down nonsense was their first attack against liberalism & liberal institutions by trying to delegitimate a state set to expand economic rights.
Reinvented? Wasn’t it what Galbraith called Horse and Sparrow economics from Britain in the late 19th C? Regardless, it’s always been a massive grift and there’s nothing new under the sun.
There were 13 US billionaires & just shy of a trillion dollar National Debt in 1980. Added Reaganomics in the form of Privatization & 45 years later there are 800 US billionaires & a 36 trillionaire dollar National Debt. Going back to the New Deal the billionaire class and their millionaire minions
have purchased control over the legislative, executive, judicial, and political process that has allowed Trump & ilk to establish this authoritarian nightmare.
Reagan was the first compromised president. He let a bunch of evildoers into the system. Many are still here. And they've taken away our government in the same way insurers have destroyed the doctor/patient relationship.
The time to fight back is now. We need to get LOUD and make them listen!
Whether we're Democrats, Republicans, or independents , it does not matter. We all understand that an attack on any one of us is an attack on all of us.
Yes. And since they see themselves stuck without improving at the same time there are more women and people of color in similar jobs, they assume THAT’s the reason the American Dream died for their generation.
Just a reminder, sir, you were a part of the Democratic administration that completely acquiesced to every conservative economic idea that the Republicans put forward.
Hell, pappy Bush knew it was BS in the 80 primary but eventually fell in line. It was the ideal vehicle for their strategy of starving the government of revenue so they would be "forced" to cut the social safety net. The debt and deficit are super important (at least when Dems are in charge).
And no one has ever been able to prove the existence of the 'trickle down' effect... Ever.
Even though the incentive to publish such a study is most decidedly there.
Trickle down economics was a way to justify corporate tax cuts, not a real benefit to the working class. It was framed as economic growth for all, but in practice, it concentrated wealth at the top while leaving most workers with little to no gains. It was, is, and always will be a lie.
And yet every post-Reagan Republican president still pitches it. Lucky for them, there are enough stupid voters in their base who: (a) think it’s a new, untested idea, and (b) buy into it.
Trump now fully controls all 3 branches, military, CIA, FBI, NSA and DOGE will steal everything. Marshal law. Barron will inherit the throne. No more elections. MAGA killed democracy. We’re all under surveillance. We live in Russia. Boycott everything
Yeah Regan was a horrible president who was just another 1% whore He also made it almost impossible to sue the police after Rodney King was able to sue Now the police are out of control and above the law in America because of that selfish creep Regan
The theory of "Trickle Down Economics" came from a scribble on the back of a napkin. Ever since then, every real world attempt to implement it has been an abject failure. And nearly every single economist has denounced it.
Yet Republicans keep pushing it as their most cherished dogma.
Robert… you are on your last leg. A few months left before the drag of time and entropy causes you to leave for good. I think I might shed a tear sir. 😿
Unfortunately that's a little too complex for the average Trumptard to understand, despite reams of data to prove it. Much easier to blame DEI and immigrants. Don't forget Reagan signed the Simpson/ Mazzoli Act in 1986 that granted amnesty to 4 million illegal undocumented workers in our country.
USSR collapsed due to economic inefficiency, political corruption, and authoritarianism, not because it lacked capitalism or inheritance rights. Central planning failed, not ‘high taxes.’ If heavy progressive taxation doomed nations, Nordic wouldn’t exist. Historical illiteracy is not an argument
I remember one of my first economics classes in college, during the Reagan administration, discussing trickle-down and supply-side economics, and the Laffer curve and why they wouldn't work. I have only become more convinced as the years go by.
40 years later, we have evolved into trickle-up economics. In that time, income inequality has spiked, wages are stagnant, and inflation keeps marching. The greatest trick the devil ever pulled is convincing poorer people that they need rich people for society to thrive.
The worse thing about trickle down.. was it make them hungry for more money.. it was suppose prevent mass layoffs and increase people’s income… it did the opposite.. they just wanted to keep more.. it’s absolute shit… tax the fucking rich…
Yeah, because if the poor are responsible for their poverty it isn’t our problem. Scapegoating them ( they’re lazy, they drive Cadillacs, they steal from the hard working taxpayers) means we can call any program that feeds kids “socialism”. Sick, isn’t it? But effective
Just a random reminder that Robert Reich had been working for administrations since the 1980’s, right and then don’t remember him speaking out about it
tbf - lets talk about both sides. obamas 35% was too high. of course, 15% is way too low. what is a fair tax for corps? kamala's 28% seems fair to me for an upper bound.
Encourage your Congressperson to participate on March 4 in a SOTU WALKOUT!
Trump will be addressing a joint session of Congress and the Dems have an opportunity to show solidarity against his regime by walking out of the chamber en masse as soon as he begins to speak.
On the brighter side, a recent UK *Prime Minister*, a conservative arsehole called Liz Truss, tried this trickledown horseshit with the UK people and was forced to resign in less time that a lettuce rotted.
It's nothing short of blatant lie, false flag, non starter. It simply doesn't work and why hasn't that term been dropped in past 40 yrs? Let's face it, Republicans are just a lot better at spreading their lies & convincing their supporters with their BS. Today all those R's have morphed into MAGAs.
I’ve always seen it as an extractionist philosophy aimed at extracting middle-class wealth OUT of the economy concentrating it in the hands of oligarchs…
It's a giant scam against the working class by the robber barons just because they don't want to pay taxes. They're so greedy that they delusionally believe they worked hard for that money.
It's the big lie &conservatives in some circles are still flogging it. I heard Doug Ford's finance minister(Ontario) refer to trickle down when we were all trying to get back on our feet again after the pandemic. "Job creators" needed to get preferential treatment bc the wealth "trickles down"
I belong to the first (maybe second) generation of trickle-ees. That we’ve been royally screwed by trickle down is as obvious as finding affordable section 8 housing is difficult. And now the billionaires want to take even our meager SSI away from us. Apparently even stale bread is too good for us.
It's become something they use to try to blame democrats for any and all budget issues.
Anybody with eyeballs and basic math skills can clearly see the problem is the tax cuts for the wealthiest.
Correct. It has never worked and never will. It was just a smoke and mirrors way to trick the middle class into allowing huge tax breaks for the wealthy. #WealthTaxNow
And it’s the BLUE STATES who carry the weight of the Red States. They pay 💰 for their welfare, for their food stamps, etc. Yet Red States vote 🗳️ conservative.
Now the Red States are going to feel Trump’s wrath and fury 😡 the worst.
Trickle down is der than that! It used to be called "horse & sparrow" economics because if you give enough oats to a horse some will eventually make it down for the sparrows!
They have so much money at this point. Accumulating more serves no other purpose than being part of a competition between them to have the most. A pathetic game to them at the expense of so many people.
We need the top marginal tax rate to go back to pre-Reagan if we want to even make a dent in our deficit. I believe it was 70% or somewhere around that. Maybe start at the tax rate of 90% like it was back in 1944 to 1963 and bring it down each year until it hits 70% and stop.
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The devastation wrought by conservative "policies" is not an indication of their failure - it is clear proof of their success. And that is much more damning.
Hell, purges of military leadership just started last night.
Why would anyone think now is the time to relitigate tax policy from two generations ago?
George H.W. Bush--Recession
George W. Bush--Great Recession
Trump--COVID Crash
Oh and Hoover, Great Depression
The business model used by so many wealthy
This coup is corporate and money based.
We're going to need a lot of rope...
Whether we're Democrats, Republicans, or independents , it does not matter. We all understand that an attack on any one of us is an attack on all of us.
Michelle Obama
https://rooseveltinstitute.org/blog/the-trickle-down-tax-code-failed/
Even though the incentive to publish such a study is most decidedly there.
We need a more educated populace!
“If you don’t know hoe trickle-down economics works, that’s ’cause it doesn’t.” —Stephen Colbert
of protect public from theft and criminal actions
but lately they been missing all that ?
former Gov but still State of Florida Senator
and former military guy is trying to steal folks money
and not payout benefits as paid by the rest of us?
Yet Republicans keep pushing it as their most cherished dogma.
And it stinks.
The abolition of all private property and rights of inheritance is its FIRST AMENDMENT?
If heavy progressive taxation doomed nations, Nordic wouldn’t exist.
Central planning failed, not high taxes.
USSR collapsed due to economic inefficiency, political corruption, and authoritarianism, not because it lacked capitalism or inheritance rights.
It won't trickle down even if I'm thirsty? (Sarcasm)
The Cowboys would win a Superbowl(Never) before trickle-down economics ever made sense.
Although, unfortunately, both parties have benefitted from this concept.
We experience extreme wealth inequalities because corporations are plutocracies—the wealthy dictate compensation and enrich themselves.
The better model is democratic worker-owned businesses where wages are subject to democratic input.
https://ips-dc.org/kansas-tried-trickle-economics-didnt-work/
we can take all of the billionaires wealth and redistribute it to everyone
Check this statement by ex-KGB agent.
https://www.tiktok.com/t/ZP8YGnV8h/
Trump will be addressing a joint session of Congress and the Dems have an opportunity to show solidarity against his regime by walking out of the chamber en masse as soon as he begins to speak.
The name is insulting to start with - only promising a trickle, and not even that flows down to the rest of us.
Trickle Down = Trick and Loot.
True story, look it up :)
*was*
After 40yrs of waiting for a trickle we are onto this bullcrap 3 card Monty game of hoarding wealth in exchange for hope
The appropriate level for those in the higher echelons is 90% as enacted by President Eisenhower in the 1950’s
Nothing else is adequate.
but clinton did
Anybody with eyeballs and basic math skills can clearly see the problem is the tax cuts for the wealthiest.
Ever since Reagan: THE ECONOMY IS BETTER 👏 when a DEMOCRATIC PRESIDENT is in charge:
https://www.jec.senate.gov/public/index.cfm/democrats/2024/10/the-u-s-economy-performs-better-under-democratic-presidents
Now the Red States are going to feel Trump’s wrath and fury 😡 the worst.
https://time.com/5888024/50-trillion-income-inequality-america/