2y ago

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

www.cbsnews.com

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

politics @lemmy.world

FenrirIII @lemmy.world

9mo ago

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

www.cbsnews.com /news/tax-cuts-rich-50-years-no-trickle-down/

Canada @lemmy.ca

RandAlThor @lemmy.ca

2y ago

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

www.cbsnews.com /news/tax-cuts-rich-50-years-no-trickle-down/

15 comments

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In other news the sky is blue and water is in fact wet.
- No, water is only wet, because of government regulation!
  If it weren't for all the taxes and regulations, the economy could unleash water's true power!
  
  I don't think water is wet, we get wet from water.
  Water in the air doesn't make us wet
I'd love to see a study into what happens in countries that raise taxes on the rich. Do they all leave, as they constantly threaten to if taxes are raised? Do they find ways to dodge it? Or do they just pay it and life carries on?
- countries that raise taxes on the rich
  That's Europe, right? The countries with universal healthcare, reasonably maintained infrastructure, and generally high standards of living? I don't know, I don't think it would work in the US. Too much Freedom™ here to overcome.
  
  Even a lot of European countries don't tax the wealthy as much as they could/should! The public services and infrastructure tend to be funded by a higher tax burden on the lower and middle classes, combined with borrowing (for example, France). And the UK is absolutely terrified that all the rich people would leave if they had to pay their fair share. Given their rentier capitalism contributes virtually nothing to productivity or public services, I think we should call their bluff.
I donno man, seems like a lot of rich people piss is all over us
What a surprising discovery.
Considering lots of folks knew it wasn't going to work even as he was pushing for it, it's not a surprise. We've known this for decades
- Yes exactly. It wasn't ever actually meant to help most people. It was dressed up pretty-like to fool an entire generation of rubes who are blind to what it did to their children and grandchildren
Reagan would have pretended in public to hate Trump, but as long as he didnt think anyone was looking they'd probably admire each others perverted dismantling of the USA.
Working as intended.
Link to the study https://eprints.lse.ac.uk/107919/
Seems like the original press release (which includes a link to a pdf version of the study) from the LSE was from 2020. https://www.lse.ac.uk/News/Latest-news-from-LSE/2020/L-December/Tax-cuts-for-the-rich
It seems CBS pick this up because the working paper was finalized.

15 comments