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/

Finance @beehaw.org

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/

38 comments

The wealth was never meant to trickle down. That was just a line to keep the proles subservient and waiting.
- @floofloof @RandAlThor
  Yup. Reagan and Thatcher just did what their rich friends wanted them to do, and fucked us and the earth for a long time.
  
  Macron is doing that to France right now. It's not gonna be pretty.
- That was just a line to keep the proles subservient and waiting.
  Huh? The trickle down line comes from comedian Will Rogers who was making a joke about how President Hoover, who was an engineer, was accustomed to water trickling down, but that he didn't realize money trickles up.
  It was a line to serve the exact opposite – to tell the 'proles' that the economic plan was fundamentally flawed.
  
  yeah, but it was repurposed for that. "pulling yourself up by your bootstraps" also has its origins in a saying referring to something that is impossible, but was later repurposed into having the opposite connotation for most people.
  
  Thanks. I learned something. I grew up hearing it discussed seriously in the 1980s, by which time I'm not sure everyone remembered the critical origin you identify. As I remember it, during the Reagan/Thatcher years many people treated the matter of whether and how the wealth would trickle down as a real live question.
The only thing trickling down is piss. People still drink it though.
- Double the fent high I hear. Did somebody say something about an opiate crisis?
In other news, water is wet. Heat... hot!
- The only news here is that it's in the news.
Fifty. Fucking. Years.
- And it was just a rebranding of horse and sparrow economics, a 19th century concept. It was always a scam, they just made sure the media was never allowed to criticise it.
  
  @jonne @Deckshermorgan
  It's why they bought almost all the media companies.
  The medium is the message (or massage). Always has been.
- And fuck you. Fuck me. And fuck the 99%. That's all we have to show for it.
- Never forget, "politician" is a sales job with an optional secondary management component.
We knew this before.
- Breaking news! New 2023 studies find that Y2K did little to negatively impact technology.
  
  Bad example.
  In some cases, a LOT of shit was fixed up in a massive crunch to ensure it wouldn't fall over. Like shit-in-space kinda stuff as well as stuff that makes sure you have heat and light and hot clean water.
  It was a massive effort for some orgs and, grace of God and hard work, you never noticed.
If Canada has to use the United States as an example of the consequences of bad behavior, so as to prevent Canada from making the same mistakes ; then I support it.
- Feels like that's a not insignificant part of our national identity.
  
  Let's be honest, a forced contrast with America is most of Anglo Canadian identity.
I'm shocked, I tell you. SHOCKED!
At least now there is a study that corroborates what we’ve been saying for decades. So, we’ve got that going for us. Right?
We should take it from them now
- @zcd @RandAlThor
  BBQs for everyone!
Well color me surprise-
Ah shit nobody can afford color anymore
For those just realizing, that this was the plan...
well lets try another 50 just to be sure
What really????1??!
Good to have hard numbers, I guess.
Rich people: Give us all the money and we'll let you have a little.
Liberal voters: Fuck off!
Conservative voters: Ok!
Liberal voters: We told you so.
Conservative voters: Any day now...
No way!
The economy has changed tremendously since Reagan was in office. I think in order for the US economy to improve we need to accept we are a just a part of the global economy and enforce fair trade.
- Free trade was always just a shiny feel good label for allowing the ruling class of America to exploit cheap labor who have less protections in foreign countries to increase profit margins. But hey, we paid them a pittance to pollute their land and work 20 hours days. Fair trade.
  
  Funny, that's not how free trade between the US and Canada worked out. The US got all our manufacturing, because the US is a shitty place that exploits poor low cost laborers who have less protection than competing workers in Canada.
  
  I'm not sure about all that...Big business making sweat shops and the American government demanding equal trade aren't the same at all. If whatever country chooses to not regulate their factories and work practices that, again, is not the fault of the US government. Fair trade in a global market should be the only standard or trade.

38 comments