Mastodawn

Dan Wentzel 🏳️‍🌈Aug 29, 2023

Look, we tried trickle-down economics for over forty years. It simply didn’t work. The national debt exploded and nothing trickled-down, so now we move on.

Stimulating the economy from the bottom up is clearly more effective. A rising tide should lift all boats, not just yachts.

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

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

Tax cuts for the wealthy didn't boost the economies of the U.S. and 17 other countries — but they did worsen income inequality.

Show thread

(((JaneinNJ)))

@danwentzel Trickle down was always a grift. The spoken goal was to make the rich richer so that they could reinvest in business and thus provide opportunities for the poor (AKA African-Americans). Real goal was to undo the impact of the New Deal. They wanted to get their mitts back on $ and power they felt they were owed — and, by extension, distance themselves from and subjugate minorities. Even then the diehard Rs hated the idea of a mutually beneficial, diverse society.