DoctorWhookah
Robert ReichThe upward redistribution of wealth over the past 45 years has shifted $50 trillion from the bottom 90% to the top 1%. That’s $50 trillion that would have gone into the paychecks of working Americans.
The wealth doesn’t “trickle down.” It gushes up.
Skeptic@rbreich It gushes up like an oil well, which is why the Saudis seem to be buying up everything.
pflama@rbreich Reich's Law of Unchecked Wealth Levity
Schecky@rbreich Nice to see that you are active here Robert.
Daniel S. Reichenbach@rbreich if you stab someone, blood gushes out. If you Arab someone’s pockets, their money gushes out.
wolfj
jmjm@rbreich what happened 45 years ago?
Ronald Reagan.
NobodyIt sure does when you have a massively corrupt government redistribution wealth and foreclosing all opportunity except for their cronies and donors!
SomeGadgetGuy
Aviva Gary@rbreich Reverse Gravity?
C0ppertop@rbreich one day when the last of the Billionaires lies dead in the … ground, and their money has been given back to the people they stole it from, maybe we’ll get national healthcare, or school lunches, or any number of things we can’t afford now.
MiMi Agnew@C0ppert0p @rbreich Or they keep going to the bottom of the ocean.
WestTexasJesus
Daniel BrockmanFirehose Up.
But can we agree the only problem with wealth trickling down is that it's a mere trickle?
groxx@rbreich I recently heard "trickle down" and "vacuum up" and I think that's my favorite now
@rbreich Facts Facts Facts!
Seán Fenian@rbreich and the only reason it's ONLY $50 trillion is because they couldn't figure out a way to take it all.
Dale Emery@rbreich It doesn’t gush (of its own accord). It is siphoned.
Mike Leech@rbreich yet 100 million have given Zuck all their phones data permissions just to have the new Threads social media. So they want to help the billionaire class.
JT Wildfeuer@rbreich 50,000,000,000,000 for reference
Bob Wyman@rbreich If wealth trickled down, the **Share of Total Net Worth Held by the Top 1%** would either be constant or falling. In fact, the net worth of the top 1% has been increasing, on average, for a very long time.
Claims that wealth trickles down are easily dismissed by simply looking at the numbers.
Pierre Pezziardi@rbreich source ?
Ron DeSantis's BDE@ppezziardi @rbreich
It's from a 2020 Rand report.
You can find it easily by copy/pasting the first sentence of the post into Google.
@rbreich Go back 50 years, It has NEVER made a downward trickle
SFborn1940@rbreich A top heavy ship will eventually capsize.
Lesdmark
Pete Wright@rbreich that's a lot of public transportation, free education and healthcare the regan revolution straight up stole from us.
Boswell@rbreich whenever someone reports earnings of over a million, they're either profiteering from their own employees or they're profiteering from their customers. Or both. I'm yet to be convinced there's any other explanation. If a business does insanely well, why are the staff not treated like priority shareholders and properly compensated?
Ineedahaircut@rbreich
Wealth never trickles down. Tax cuts never pay for themselves.
Wealth never trickles down. Tax cuts never pay for themselves.
tsadilas@rbreich exactly!
@rbreich
Trickle down economics, has never worked. In the 1970's and 1980's nothing trickled down. Two people had to work to keep a family surviving, just like now. Learn to save for tomorrow.
Trickle down economics, has never worked. In the 1970's and 1980's nothing trickled down. Two people had to work to keep a family surviving, just like now. Learn to save for tomorrow.
Felipe 
@rbreich inflation in action
ShachihokoSaying the wealth "gushes up" implies that it's doing so for something akin to natural causes.
It's being *siphoned off* from the bottom and channeled to the top.
Nick Steen@rbreich point well taken but greed is infinite so it's more like a snowball vs a trickle or a gush. Would be great if there was a way to direct the snowball to work for everyone vs just pursuing its own end.
Juan Francisco
Abd Ahad Ul Amin
E J Barron@rbreich Trickle down economics works, but in reverse of the hype. What trickles down are the taxes the wealthy would be paying if they hadn’t been allowed to buy and own the government.