The Trickle Down Failure and Civil Unrest

Cinnabar

Verified User
STUDY PROVES TRICKLE-DOWN DIDN’T TRICKLE

Back in the early 1980s, when Ronald Reagan was telling us that tax cuts for the wealthy would trickle down to the rest of us and promote broad prosperity, I saw a political cartoon in a left wing magazine that had a crude image of Uncle Sam pissing on a map of the United States. The cartoon was title “Trickle Down Theory.” A study by the London School of Economics that looked at 50 years of tax cuts shows the cartoon was more accurate than Reagan.

The paper looked at 18 countries and measured the impact of tax cuts. They authors found that tax cuts increase economic inequality and benefit few people other than the rich. Contrary to conservative claims, they don’t improve job growth or wages.

In other words, Republican economic arguments for the past 50 years have been wrong. Trickle-down theory is, as George H. W. Bush aptly called it, Voodoo economics. The only people who have really believed this nonsense are the free market ideologues that have dominated the GOP think tanks since the 1970s.

Republicans have been spouting magical thinking about economics almost all of my adult life. Not only have they maintained that tax cuts would create jobs, they told they would increase revenue. Instead, they’ve created the massive inequality that plagues us today and led to the deficits that only matter to Republicans when Democrats try to raise taxes to get them under control.

Unfortunately, Republicans have successfully convinced people that tax cuts are almost always good and tax increases are almost always bad. That’s the political argument. Their policy arguments are, as the study shows, harmful to working and middle class families, but Republicans claim they are letting people keep more of their money. In fact, people are paying more for everything from health insurance to housing to education and the profits are going to those who already benefit from the tax cuts.

Let’s get real. The theory was never meant to benefit the majority of Americans, no matter what the GOP said. Instead, it was used to justify the principle that the government should not take money from people, regardless of their wealth or the source of their income. Republicans didn’t really care whether it trickled down or caused massive inequality. They just wanted to protect the earnings of the wealthy from the hands of government. That it’s caused so much unrest in our country and left so many people struggling is of no consequence to Republicans. The profits generated by trickle-down economics is how the free marketeers define “freedom” and that’s their core value.

https://www.politicsnc.com/study-proves-trickle-down-didnt-trickle/

And the Republi-Cons have done a bang-up of convincing those of low information that its everyone else causing the misery.

And who really needed another study to know what bull-shit trickle down is???!!!
 
Actually, I was hoping you would respond with "What about the 'Drone Class' that isn't invested".

50% of Americans live hand-to-mouth. Those are the guys that need to be listened to.

Didn't you hear what Richard Wolff said in the video? Exactly his point.
 
The key thing is for American working people to remember how to tell their arse from their elbow and start looking after their own interests instead of supposing some rich bugger will do it for them, because, guess what, there's no way he gives a twopenny for anyone but himself.
 
The key thing is for American working people to remember how to tell their arse from their elbow and start looking after their own interests instead of supposing some rich bugger will do it for them, because, guess what, there's no way he gives a twopenny for anyone but himself.

That's exactly right.
 
And the Republi-Cons have done a bang-up of convincing those of low information that its everyone else causing the misery.

And who really needed another study to know what bull-shit trickle down is???!!!

You are exactly right, the Plutocrats have been winning the propaganda battle, and getting people to vote for an economical policy that is detrimental to themselves; you have only got to look at the income and wealth disparity to see that.
 
And the Republi-Cons have done a bang-up of convincing those of low information that its everyone else causing the misery.

And who really needed another study to know what bull-shit trickle down is???!!!

What misery? There is none. I like most Americans have a pretty nice life,.... its only you fuck ups that dont,...and NOTHING can fix THAT. We have a nice home, plenty of money in the bank, a retirement set aside, lots of toys, boats jet ski's, nice vehicles. Its not all that hard either. Work,... dont do drugs,... dont commit illegal activity. Over time you will succeed and do quite well. Its only you FUCK UPS who whine, beg, and cry about misery. But it is because you are FUCK UPS. NOTHING can help a fuck up. Either change,... or live in misery like a fuck up. It is really that simple.
 
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