Why is trickle-down economics still with us?

BidenPresident said:
Ever since Reagan and Thatcher first tried them, trickle-down policies have exploded budget deficits and widened inequality. At best, they’ve temporarily increased consumer demand (the opposite of what’s needed during high inflation that Britain and much of the world are experiencing).

Reagan’s tax cuts and deregulation at the start of the 1980s were not responsible for America’s rapid growth through the late 1980s. His exorbitant spending (mostly on national defense) fueled a temporary boom that ended in a fierce recession. The Donald Trump White House’s tax cut never trickled down.

Yet the US never restored the highest marginal tax rates before Reagan, and deregulation – especially of financial markets – is a continuing legacy.

https://www.theguardian.com/commentisfree/2022/oct/09/why-is-trickle-down-economics-still-with-us
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It can't "trickle up" since those at the bottom do not have anything to trickle up. The highest marginal rates raised less revenue per GDP than later lower rates; and, nobody really paid those top rates.

There was never a "trickle down" policy. That was just a derogatory term critical of tax cuts.
 
Flash said:
It can't "trickle up" since those at the bottom do not have anything to trickle up. The highest marginal rates raised less revenue per GDP than later lower rates; and, nobody really paid those top rates.

There was never a "trickle down" policy. That was just a derogatory term critical of tax cuts.
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Voodoo Economics.
 
Flash said:
It can't "trickle up" since those at the bottom do not have anything to trickle up. The highest marginal rates raised less revenue per GDP than later lower rates; and, nobody really paid those top rates.

There was never a "trickle down" policy. That was just a derogatory term critical of tax cuts.
Click to expand...

I used to love when they would ask how the tax cuts would get "paid for". It was another verbal slight of hand leftists would use to confuse the people they spent years training to be confused in their indoctrination centers.
 
BidenPresident said:
Ever since Reagan and Thatcher first tried them, trickle-down policies have exploded budget deficits and widened inequality. At best, they’ve temporarily increased consumer demand (the opposite of what’s needed during high inflation that Britain and much of the world are experiencing).

Reagan’s tax cuts and deregulation at the start of the 1980s were not responsible for America’s rapid growth through the late 1980s. His exorbitant spending (mostly on national defense) fueled a temporary boom that ended in a fierce recession. The Donald Trump White House’s tax cut never trickled down.

Yet the US never restored the highest marginal tax rates before Reagan, and deregulation – especially of financial markets – is a continuing legacy.

https://www.theguardian.com/commentisfree/2022/oct/09/why-is-trickle-down-economics-still-with-us
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And, what do you propose should replace it?
 
Stone said:
Duh,......because EVERY economic system is trickle down with capitalism being far and away the best.
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You should thank your lucky stars you've never really lived in a true laissez-faire free market economy. We tried that in the 1890's and folks like you and I ended up living in squalid tenements.

The things that make your life good here in America came along with Progressive actions in the early 1900's.
 
BidenPresident said:
You would benefit from taking an intro to economics course.
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I already wasted my time with one of those but you have no idea why you even said that. More people deciding what to do with more not their own money is the best basis for an economy. Thomas Sowell defines economics as, "the allocation of scarce resources that have multiple uses". Ive never found anything wrong with that definition. Those scarce resources include the dollars in taxpayers pockets. It's not limitless and people.knkw best what they need except leftists.
 
Yakuda said:
I used to love when they would ask how the tax cuts would get "paid for". It was another verbal slight of hand leftists would use to confuse the people they spent years training to be confused in their indoctrination centers.
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Democrats and Republicans pay for tax cuts and spending by borrowing money. I didn't like Trump's tax cut without accompanying spending cuts because it increased the deficit and debt.
 
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