50 years of tax cuts for the rich failed to trickle down, economics study says
1–10 of 162 posts
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#2no shit....
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#3no shit....
Haha came to say the same thing.
File this revelation under the no shit category.
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#4Perhaps I'm having a Mandela Effect moment, but hasn't "trickle down" been debunked before this study...repeatedly? Not just "no shit", but actual studies and stuff? Regardless, Will Rogers is credited with the phrase "trickle down" to refer to supply-side economics, so it has gone on longer than 50 years. Mr. Rogers also did not mean the turn of phrase to be complimentary.
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#5Perhaps I'm having a Mandela Effect moment, but hasn't "trickle down" been debunked before this study...repeatedly? Not just "no shit", but actual studies and stuff? Regardless, Will Rogers is credited with the phrase "trickle down" to refer to supply-side economics, so it has gone on longer than 50 years. Mr. Rogers also did not mean the turn of phrase to be complimentary.
Indeed. Wikipedia (https://en.wikipedia.org/wiki/Trickle-down_economics) say he used it in 1932, and says the idea is even older (“leak through” in 1896; “If you feed the horse enough oats, some will pass through to the road for the sparrows.” in the 1890s)
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#6Wouldn't trickle up economics work better? Poor people have more unmet needs and more likely to spend any extra they get into the economy.
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#7Perhaps I'm having a Mandela Effect moment, but hasn't "trickle down" been debunked before this study...repeatedly? Not just "no shit", but actual studies and stuff? Regardless, Will Rogers is credited with the phrase "trickle down" to refer to supply-side economics, so it has gone on longer than 50 years. Mr. Rogers also did not mean the turn of phrase to be complimentary.
It has, but half the country still hasn't gotten that message.
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#8This fact was obvious long before 50 years ago! For starters, just go back to Marx and Engels in the 1840s.
The longstanding problem with that trickle down argument is and has always been that the rich have always had the money to: (a) effectively lobby politicians into accepting that viewpoint, and or (b) becoming politicians thus enabling them to enact laws that benefit themselves directly, and (c) to purge or whitewash arguments/statements to this effect from history (such as my comment here) by the effective use of propaganda. Ordinary people simply don't have the financial resources to effectively counter these self-serving actions.
It really is time we stopped mucking about and called this economic nonsense for what it really is—a charade or justification that only fools the gullible.
For instance, we could begin by abandoning the Nobel Prize for economics, this would bring the artificially-propped-up status of the Milton Friedmans of this world back down to earth.
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#9Wouldn't trickle up economics work better? Poor people have more unmet needs and more likely to spend any extra they get into the economy.
That’s effectively what Nick Hanauer has been saying more recently but I believe we are too far gone at this stage.
Re: 50 years of tax cuts for the rich failed to trickle down, economics study says
#10Perhaps I'm having a Mandela Effect moment, but hasn't "trickle down" been debunked before this study...repeatedly? Not just "no shit", but actual studies and stuff? Regardless, Will Rogers is credited with the phrase "trickle down" to refer to supply-side economics, so it has gone on longer than 50 years. Mr. Rogers also did not mean the turn of phrase to be complimentary.
Indeed. Wikipedia ( https://en.wikipedia.org/wiki/Trickle-down_economics ) say he used it in 1932, and says the idea is even older (“leak through” in 1896; “If you feed the horse enough oats, some will pass through to the road for the sparrows.” in the 1890s)
“If you feed the horse enough oats, some will pass through to the road for the sparrows.”
Boy, an accurate assessment of supply-side economics if there ever was one: "let the plebs pick through our shit to see if we left any excess for them".