Liz Truss urges world leaders to follow UK with trickle down economics
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Re: Liz Truss urges world leaders to follow UK with trickle down economics
#2Sigh. Trickle-down doesn't work.
Lowering taxes on the wealthy helps the wealthy. It does not help the economy. Consumer spending is not increased, so the lost tax income by lowering taxes is not earned back through a larger economy to tax.
The predictable result is more income inequality, which already is higher than it ever has been since the second world war.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#3This is both sick and sad.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#4> Biden, meanwhile, tweeted: “I am sick and tired of trickle-down economics. It has never worked. We’re building an economy from the bottom up and middle out.”
And the Petrodollar, which allows us to mostly do whatever we want. Just a side note.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#5> Biden, meanwhile, tweeted: “I am sick and tired of trickle-down economics. It has never worked. We’re building an economy from the bottom up and middle out.” And the Petrodollar, which allows us to mostly do whatever we want. Just a side note.
The US have become a net energy exporter and the largest exporter of natural gas.
This strategy is paying off, especially when you compare with the situation in Europe, which has chosen the opposite strategy (shale gas exploitation is banned).
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#6Sigh. Trickle-down doesn't work. Lowering taxes on the wealthy helps the wealthy. It does not help the economy. Consumer spending is not increased, so the lost tax income by lowering taxes is not earned back through a larger economy to tax. The predictable result is more income inequality, which already is higher than it ever has been since the second world war.
I don't think wealthy are paying much taxes, percentage-wise (significant in dollar value though). There are simply too many tax minimization instruments that they have at their disposal. It's the middle class that is carrying the brunt of taxation. So when they say "tax the rich", what they really mean is "tax the middle class and small business owners". Eventually, you would run out of "other people's money" and you will have a society of super-rich and super-poor. I suspect it won't be a good place to live in.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#7Unsurprising. Speaking to the bellies when one can't speak to the brains.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#8America to the left of the UK?
https://www.thetimes.co.uk/article/no-doubt-cutting-taxes-wi...
Its seems Biden and Truss are falling out already!
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#9This is both sick and sad.
Another normal day on normal island.
Re: Liz Truss urges world leaders to follow UK with trickle down economics
#10America to the left of the UK? https://www.thetimes.co.uk/article/no-doubt-cutting-taxes-wi... Its seems Biden and Truss are falling out already!
A trade deal between the US-UK which the current UK goverment has been banking on has already been shelved as not happening in the short to medium term.
This is unsurprising to anyone outside of the UK goverment.