Never has an economic theory been so definitively disproven but so fiercely defended. I guess I misunderstood “facts don’t care about your feelings” to mean the facts were the winners.
Are you telling me that reducing the meagre taxes the wealthiest are subject to and making it easier for them to offshore their money and rely on direct and indirect government assistance to grow their businesses doesn't benefit everyone?
People keep on trying to prove this again and again and it’s always the case. This idea of trickle down economics was always a lie. I wish we’d stop wasting our time with this and start rioting.
If we ever develop “general AI” and it lays out a perfect plan for optimizing global human happiness, complete with in depth mathematical proofs, but it involves raising taxes on the rich, they’ll say the AI is broken and completely erase it at all costs.
From CRS in 2012:
“The top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution. The share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007”
Definitely the *first* study to ever find that trickle-down economics is a ponzi scheme. Also, I'm curious as to which living economists this article is referring to.
And the people with the biggest boats can put out to sea to ride out the storms, but the little boats who can't afford to get smashed against the quayside they're tied to.
What I can’t believe is that anyone, ever seriously thought anything else.
However, I am willing to give it another shot. Everybody give me money and let’s see how much I can stimulate the economy.
Kind of absurd that it ever got even a veneer of respectability as an idea. Even Republicans famously considered it voodoo, at the beginning. Mainstreaming that nonsense was the beginning of the end.
Oddly enough, the rich have set up a system that's closely contested enough that the money from the rich themselves is enough to influence elections. No one is electable that can change the status quo, we are stuck in a perpetual state of deadlock, frozen by issues unrelated to being rich or not.
Sadly, there have been plenty of such studies and that myth seems so burned into the DNA of western democracies that it looks to survive the dismantling of the democracy itself.
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Adam Smith wrote "read, write and ACCOUNT" multiple times in Wealth of Nations. He used the word 'education' Eighty Times.
That "Invisible Hand" can be counted on ONE FINGER!
In Project Gutenberg!
2024: If trickle-down has wrecked the middle class, blame Libs.
The ‘tricklers’ know it’s bs.
CBS must be destroyed
even republicans knew trickle down was bullshit
“The top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution. The share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007”
https://sgp.fas.org/crs/misc/R42729.pdf
So not ours.
https://bsky.app/profile/wasnu.bsky.social/post/3laee42rbpk2p
We all know trickle down economics doesn’t work.
So do the people advocating for it. They know is siphon to take money from the less well off that gives money to the rich.
But, because a few people don't like the answer, the rest of us are forced to keep studying it until we die.
If you feed a horse enough oats, some will pass through for the sparrows.
Which is great as long as the sparrows don't mind eating shit.
However, I am willing to give it another shot. Everybody give me money and let’s see how much I can stimulate the economy.
It's, of course, no such thing.
Does this have to be proven old man???