Robert ReichJust another reminder that trickle 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.
🥥 Tucker Carlson's Nuts 🥥@rbreich 🥥 #TrickleDownEconomics has been an unmitigated disaster for everyone except the ultra-wealthy that it was designed to benefit. For them, it worked as intended. 🥥
BruceHere I thought it was working as intended.
Femme Malheureuse@rbreich A reminder, too, that Reagan admin's budget director David Stockman back pedaled on the administration's supply-side economics — the other name for trickle-down economics — because it didn't work.
The Reagan admin also didn't have to deal with the fallout of a mismanaged pandemic; if trickle-down didn't work then, why would it work under more challenging conditions? https://www.businessinsider.com/david-stockman-us-is-in-race-to-the-fiscal-bottom-2010-10
ken1951roberts@rbreich I guess it should be renamed "fire hose up" economics.
Americanist4U@rbreich
By en large, bountiful homelessness is but one of the crops harvested from this devastating policy. What you plant in society today takes a generation or more to reap.
By en large, bountiful homelessness is but one of the crops harvested from this devastating policy. What you plant in society today takes a generation or more to reap.
Scott Huff@rbreich it was actually created in the late 19th century for the very same reasons which was to benefit the rich at the expense of poor working people. It was then known as the "Horse and Sparrow" economic model. And we all know what happened between then and the 1920s.
nanowiz
MikeWaghorne@rbreich It's been an old saying of mine that the trickle-down theory should really be called the urinal theory: you just getting pissed on from a great height.
MikiThank you very much for Balkans policy - gerrymandering and cowtowing to RuZZian assets and pawns.
Now enjoy in disintegration of a secular worldview, order and republic like Yugoslavia in late 1980s when a christo-fascist ideology attacks secularism.
empiricismIf we had many not-for-profit cooperatives where workers were paid according to how much time they choose work (within reason) & had specialists plus generalists workers - the cooperatives could all be taxed equally (for public services such as health, water, etc) and any profit was invested back into the cooperatives.
Not-for-profit means that there are no "phat cats" skimming off the "cream".
For such a system to become the norm - Capitalism would need to be discouraged.
Kevin Karhan 
Conspiracy Theorist Anonymous
schack@rbreich . . and yet our politicians keeps repeating it as a mantra, even here in Denmark.
@rbreich Republicans have been brainwashed for 40 years to think that tomorrow they could become a millionaire and therefore do not want millionaires to pay taxes. How's that working out for you Republicans?
IamWahl@rbreich
You could have stopped at, “It’s been nothing!”
You could have stopped at, “It’s been nothing!”
Just Matthew 🙏@rbreich Robert you mentioned once in a documentary that the only way that we can protest successfully in America is by spending our dollars where we want to support certain organizations, and stop spending money where they're hurting America. I beg people to stop buying from Amazon. I have a way to prevent Amazon from allowing counterfeits. reach out to me and I'll tell you how Samsung was successful in suing them. Like you said in the documentary, we must support and protest with our dollar.
@rbreich It’s been a short road to disaster…..
Elric the damned@rbreich it was a scam by the GOP. GOP are anti human.
GrannyDeanna@rbreich those on a certain income scale are mobile, ability to move abroad to avoid paying the inflated tax. Why do some move their businesses to Dubai or sell up by surrendering to foreign ownership? We need to keep wealth at home and review our tax system.
cowvin@rbreich The biggest troll aspect was the "Laffer" curve being a laughable justification for it.
