50 years of tax cuts for the rich failed to trickle down, economics study says

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50 years of tax cuts for the rich failed to trickle down, economics study says
Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.

The new paper, by David Hope of the London School of Economics and Julian Limberg of King's College London, examines 18 developed countries — from Australia to the United States — over a 50-year period from 1965 to 2015. The study compared countries that passed tax cuts in a specific year, such as the U.S. in 1982 when President Ronald Reagan slashed taxes on the wealthy, with those that didn't, and then examined their economic outcomes.

Per capita gross domestic product and unemployment rates were nearly identical after five years in countries that slashed taxes on the rich and in those that didn't, the study found.

https://www.cbsnews.com/news/tax-cu...ZKJRvS2-KhZHrxmuTHtaW5i47Kuj_rur78O0sliuVFqpg

No shit.
 
An interesting topic for a sociology PhD dissertation would be to understand why white Trash Deplorables in the lower middle class are trained like dogs to fight ferociously for tax cuts which overwhelming benefit the interests of Kim Kardashian and Bill Gates.
 
An interesting topic for a sociology PhD dissertation would be to understand why white Trash Deplorables in the lower middle class are trained like dogs to fight ferociously for tax cuts which overwhelming benefit the interests of Kim Kardashian and Bill Gates.

 
An interesting topic for a sociology PhD dissertation would be to understand why white Trash Deplorables in the lower middle class are trained like dogs to fight ferociously for tax cuts which overwhelming benefit the interests of Kim Kardashian and Bill Gates.

No kidding. I will never understand it, other than perceiving it as a form of brainwashing by the media and the pundits and politicians they follow.
 
No kidding. I will never understand it, other than perceiving it as a form of brainwashing by the media and the pundits and politicians they follow.

My hypothesis is if you tell a white trash trailer park Deplorable that your policy ideas will really "stick it" to the libs, you can get them to mindlessly support any Republican scheme to benefit the investor class and Wall Street interests.
 
My hypothesis is if you tell a white trash trailer park Deplorable that your policy ideas will really "stick it" to the libs, you can get them to mindlessly support any Republican scheme to benefit the investor class and Wall Street interests.

if-you-can-convince-the-lowest-white-man-hes-better-20060602.png
 
My hypothesis is if you tell a white trash trailer park Deplorable that your policy ideas will really "stick it" to the libs, you can get them to mindlessly support any Republican scheme to benefit the investor class and Wall Street interests.

That seems to be very true. LBJ said something quite similar, remember?

“If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you.”
 
50 years of tax cuts for the rich failed to trickle down, economics study says
Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.

The new paper, by David Hope of the London School of Economics and Julian Limberg of King's College London, examines 18 developed countries — from Australia to the United States — over a 50-year period from 1965 to 2015. The study compared countries that passed tax cuts in a specific year, such as the U.S. in 1982 when President Ronald Reagan slashed taxes on the wealthy, with those that didn't, and then examined their economic outcomes.

Per capita gross domestic product and unemployment rates were nearly identical after five years in countries that slashed taxes on the rich and in those that didn't, the study found.

https://www.cbsnews.com/news/tax-cu...ZKJRvS2-KhZHrxmuTHtaW5i47Kuj_rur78O0sliuVFqpg

No shit.

The only thing that tax cuts for the rich has grown is political contributions for the GOP.
 
That seems to be very true. LBJ said something quite similar, remember?

“If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you.”

Very appropriate!

I maintain that one reason we do not have a French or Norwegian social welfare state is because the white trash and the rightwing in this country believe the "darkies" are too shiftless , undeserving, and lazy to be trusted to not "abuse" a system like that.
 
Very appropriate!

I maintain that one reason we do not have a French or Norwegian social welfare state is because the white trash and the rightwing in this country believe the "darkies" are too shiftless , undeserving, and lazy to be trusted to not "abuse" a system like that.

That's a great insight. You are so right. I recall a family member who got laid off some yrs. back. He received unemployment, food stamps, medicaid, and cash assistance. Then he complained when he finally got another job about "those lazy fuckers in Chicago" mooching off the taxes taken from his paycheck. Hypocrisy is a virtue to the Reichwingers. lol
 
That's a great insight. You are so right. I recall a family member who got laid off some yrs. back. He received unemployment, food stamps, medicaid, and cash assistance. Then he complained when he finally got another job about "those lazy fuckers in Chicago" mooching off the taxes taken from his paycheck. Hypocrisy is a virtue to the Reichwingers. lol

Holy smoke!

It is also comical when elderly Deplorables using Medicare complain about Obamacare
 
An interesting topic for a sociology PhD dissertation would be to understand why white Trash Deplorables in the lower middle class are trained like dogs to fight ferociously for tax cuts which overwhelming benefit the interests of Kim Kardashian and Bill Gates.

It’s simple


Fox news
 
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