Jivo
Robert ReichTrickle down economics was invented by conservatives in the 1980s to justify massive tax cuts for the wealthy and corporations. It’s been nothing short of a disaster.
Bruce Mirken@rbreich Except for the wealthy.
Adam Shutes@rbreich Laffer curve, right?
Steve Popovich@adamshutes @rbreich aptly named...it's the rich and their corporations that are "laffing" all the way to the bank!
Alexander Hamizdat 🌹@adamshutes laugher curve more like <groan> @rbreich
rodgarciacor
j 
@rbreich horse and sparrow much?
Randy Hall@rbreich the biggest lie was the fantasy of "job creation". #EatTheRich
Lorrainehttps://theintercept.com/2022/08/25/student-loans-debt-reagan/
Changed access to education too #Reaganomics
Dan Aint Q
Connecticutting@Danaintq the last cell should just be the little glasses crushed to smithereens under the big one
@Connecticutting that tracks!
Petesmom *has moved*@Connecticutting @Danaintq Or…. Turn that triangle upside down!
IvánGutiérrez 
@Danaintq No forget that the low cups often end broken.
Leslie Varney
rw
plooger“The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.” — John Kenneth Galbraith
Kat Earthren Liu@rbreich
I ultimately defer to your expertise, but I thought it was invented earlier than that.
"Horse and sparrow" theory?
Ernest Ripepi@rbreich labeled by a REPUBLICAN as VooDoo economics, George HW Bush! When Liz Truss of the Tory party in England tried to sell trickle down at the start of her mercifully brief tenure, the populace saw it for the abomination it was and flipped out. I wonder if todays America would react the same way?
@rbreich I think calling it Grand Theft Auto(pilot) is appropriate. And can we name Reagan as the evil incarnate that he was? A total MONSTER.
Jeffrey1@rbreich Let's try trickle UP for a change instead of repeating more of the same and expecting a different result.
Phil Allsopp@rbreich Indeed its has been a complete fraud on the American people - in fact a global fraud given how many other countries try it on.
The tens of millions of people at the bottom of this "trickle-down" fraud are dying of thirst. The trickle-down stops at the hiring of a couple more pool maintenance guys or gals for the multiple residences the uber-rich have.
Coyote Surfing 🎸🎡 🌊After the 2018 GOP tax scam, which of course they sold as 'trickle down economics" that would 'raise all boats' blah blah
Avg working middle-class Americans who used to get a little tax refund around $1,000 for years & years,
by 2019 had to PAY $1,000. Same income, same withholding.
Just a $2,000 swing for the working middle-class, compliments of the GOP & their corporate donors....
the companies that got their tax rates lowered by 15% ..gave us zip, nothing, squa-doosh
Miss Fidget@rbreich they packaged and sold it but I thought the chicago school of biz invented it and then literally broke Argentina for decades by forcing it in them maybe in the 70s? Not hating just being curious esp cuz always good to #KnowYourEnemy
Busted Flush@rbreich Malcolm Gladwell talks about strong link vs. weak link systems. In a strong link system, the strongest individual is most important to success. In a weak link system, the weakest links are the most important. Our economy is driven by demand. The stronger consumer demand is, the better the economy. And demand is a weak link phenomenon.
Supply side economics is a strong link strategy. It it argues that it's capital which drives economies. But capital is rarely in short supply.
Mike@rbreich I would argue Reagan’s first tax cut — top rate from 70% down to 50% — was needed. The low inequality of the late 70s caused problems with the investment side of the economy (aka supply side). Every tax cut since then, however, has just made the rich/powerful excessively rich/powerful.
Sam Adams@rbreich How did Hoover's economic policies that led to the 1929 market crash and the Great Depression differ from Trickle Down? Both were government for the rich.
Phil Hartup@rbreich Or an unalloyed success, depending on your tax bracket.
Ray@rbreich it's a lot older than that.
Sam Abate@rbreich This could be society today, but in the 80s a bunch of people thought Reagan was cool.
mudsharkbytes
CarrieB ☕🐱 📚@rbreich I think one of the biggest questions on many people's minds - especially those of us who were born prior to the 'trickle down economics' taking hold - is this: Since we've known what a train wreck that has been, why has it proven to be so impossible for our elected officials to remove that 'program'? We've both known many politicians who have at least tried to remove Trickle Down Economics, or at least reformat it. Why has nothing taken hold? Simple greed, or is it far more complex?
@mudsharkbytes @rbreich
Thus my point, but to be fair, it's not just SCOTUS. It's the entirety of the whole system. It's all corrupt, and it's filled with greed.
Thus my point, but to be fair, it's not just SCOTUS. It's the entirety of the whole system. It's all corrupt, and it's filled with greed.
VocalDerbyGuy@rbreich When Brownback came to power in Kansas, he proposed the trickle down plan. Experts said he would cost Kansas $1 billion. At the end of his term, the costs? $1 billion. It's a scam, but it's definitely predictable in its outcomes.
Guy Benveniste@rbreich I was told a joke about trickledown down economics. It goes like this…. A man walks out of a bank with bunch of cash and past a tramp asking for spare change.
The tramp asks the man if he has and spare change. The man continues past the tramp, takes out £10, posts it through the letterbox of the house opposite to the tramp. The man walks back to the tramp and says “There you go mate, just wait for that change to trickle down, ok?”
The tramp asks the man if he has and spare change. The man continues past the tramp, takes out £10, posts it through the letterbox of the house opposite to the tramp. The man walks back to the tramp and says “There you go mate, just wait for that change to trickle down, ok?”
Jon Awbrey
Darth Kumsquat SquatsTrickle down economics has been the Republican panacea for all kinds of problems with the economy, inflation, wealth inequality, healthcare, education, racial prejudice, Covid-19, ebola, crime, and the common cold.
Cassandra of Troy@rbreich
Laffer was laughable at best.
Laffer was laughable at best.
Christian de Larrinaga@rbreich Yes a huge misunderstanding. Lowering tax rates can incentivise investment into productive (wealth generation) assets which generate higher tax takes. To increase wealth elsewhere needs Gov to distribute that extra tax take to generate opportunities for wealth creation elsewhere in the economy and encourage retained profits reinvested in local economy. But it doesn't just happen if you just reduce tax.
GFJacobs Is Still Masking@rbreich I think it's working as designed
There was no true intention that it would create a rising tide.
Nelly Jane@rbreich I don’t understand why labor seems to be practicing trickle down
PhoenixSerenity@rbreich Longtime economic con job.
BrooklynEd@rbreich It's mind control that's been going on for a long time.
Newportwonk@rbreich a disaster for the middle + working class. The wealthy, of course, have done very, very well over same time, sharing less of their wealth with society due to continuous tax cuts while benefitting from same society + opportunity it provides (versus when we used to expect return to society from those who did exceedingly well). #noblesseoblige
Workshopshed@rbreich it's tricking down a leg and we are the socks
Susan McPherson@rbreich I can still hear Reagan’s words 😢
Msbrisaqt@rbreich
Just had this conversation with my 74 year old father. He finally understands. A shame that he now has to worry that the politicians he trusted want to cut/take away his Medicare. He’s a USAF Veteran as well. Watching his spirit and trust die is heart wrenching.
Just had this conversation with my 74 year old father. He finally understands. A shame that he now has to worry that the politicians he trusted want to cut/take away his Medicare. He’s a USAF Veteran as well. Watching his spirit and trust die is heart wrenching.
dawnfry@rbreich
The mistaken basis of “trickle down economics” goes back way before the 1980s. In 1896, William Jennings Bryant declared in the “Cross of Gold” speech: “There are those who believe that if you will only legislate to make the well-to-do prosperous, their prosperity will leak through on those below.”
The mistaken basis of “trickle down economics” goes back way before the 1980s. In 1896, William Jennings Bryant declared in the “Cross of Gold” speech: “There are those who believe that if you will only legislate to make the well-to-do prosperous, their prosperity will leak through on those below.”
HighTechWriter@rbreich trickle down economics is like the rich dining at a feast while dogs eat table scraps on the floor. In the Reagan era, the middle class were like dogs scrambling to compete for those economic scraps falling from the feast enjoyed by the wealthy.
Brian Sullivan@rbreich I think the originators might have actually believed that would increase wealth and distribute it across the board. But obviously it was a bust. Now the remaining perpetrators are just greedy.
🇨🇦 Monte Alto 🇬🇧@rbreich A very successful one though for the wealthy and they still don't pay their share.
Oliver Burkardsmaier@rbreich Not for the poeple who invented it.
🇪🇺Daan🤝🍋@rbreich Theft wrapped up in a fancy word
OceanSurfAce@rbreich
not for the people who designed it…
not for the people who designed it…
Cogito Ergo Resist@rbreich years ago I wrote this post on why trickle-down economics doesn't work ... http://tigster.org/2018/11/08/the-power-of-a-dollar/
It brings the topic down to day-to-day activities that doom it to inevitable failure, no matter what the propaganda says.
It brings the topic down to day-to-day activities that doom it to inevitable failure, no matter what the propaganda says.
@rbreich I had an Econ professor that worked with Art Laffer. He told the story of the ‘Laffer curve’ presentation. These conferences are split into 2 days: day 1 present theory, day 2 present your work (IOW show the math and formulas) Apparently, Art Laffer presented the first day and never showed up the second day. 🤨