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
Click to expand...

Trickle-down economics benefit those who want to give the working class less so that they can take more. Also Trickle-down economics is enslavement of the working class.
 
Concart said:
Because people like Stone don't have a clue about economics. If trickle down/supply side economics worked, we would not have seen a massive widening of the wage and wealth gap. It is literally proof that trickle down does not work. And we have gone so far down that rabbit hole that only a wealth tax will set a baseline from which we can correct the disparity. People like Stone have been duped by the rich guys into believing that it's the fault of lazy black people. And deep down he believes that because he, like his fellow Trumptards, is an ignorant racist.
Click to expand...

you just nailed it.
 
Stone said:
Shut the fuck up Faggot before you get bitch made again. Havent you come to understand YET that you and your ACT arent needed here anymore?
Click to expand...

Just think, if you were to shut the fuck up then the world won't know just how foolish you are.
 
moon said:
TRICKLE-DOWN.jpg



That's why.
Click to expand...

To put it in one word, corruption.
 
Yakuda said:
How about we just let people keep more of the money they earn and let them decide what to spend it on? Oh that's right you leftist dipshits need a mommy govt to tell you what to do.
Click to expand...

Then where is your welfare money going to come from???????
 
Poor Richard Saunders said:
Looking at the income tax alone ignores about 50% of federal revenues.

But then you also need to look at the tax rate on different kinds of income.
Someone with no wage income making $500,000 on income in Capital gains is paying $70,847 in federal income taxes.
Someone making $250,000 in wages is paying $83,387 in income tax and FICA taxes. ($96,300 if you include the employers FICA.)

The top 1% of taxpayers while it makes 20% of the total income in the US may pay 40% of the income taxes but that accounts for only about 20% of Federal revenues. Be careful how you use the numbers. There are sources that include percent of all taxes paid. They are a better choice if you want to talk about who pays what.
Click to expand...

Income tax makes up half of the revenue the federal govt collects. I have seen 4.4 trillion reported as revenue collected through all types of taxes. That means 2.2.trillion is from income tax and using your figure of 20% that's still 440 billion dollars. Thats a hefty number but more so if you consider that half of Americans pay $0 federal income tax.
 
NiftyNiblick said:
Failed Republican economic policies are still with us because they provide a short term (as well as short-sighted) benefit to the corporate oligarchs who control the party.


The tiny few who benefit have become absolutely brilliant at dangling the rank-and-file Joe Sixpack Republicans by the strings.
It's actually chilling to observe, with the millions of certifiable idiots voting in 180° opposition to their own best interests.
Click to expand...

Well said
 
You must log in or register to reply here.
Back
Top