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.

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Dan Wentzel 🏳️‍🌈Aug 29, 2023

It isn’t just in the US. Trickle-down economics fails everywhere. Hopefully, the short-lived, but disastrous Liz Truss premiership buried it in the UK.
https://www.lse.ac.uk/research/research-for-the-world/economics/tax-cuts-for-the-wealthy-only-benefit-the-rich-debunking-trickle-down-economics

Tax cuts for the wealthy only benefit the rich | LSE Research

Trickle-down economic policies are destined to fail, research suggests. David Hope explains why the issue is so controversial.

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Weasel Aug 29, 2023

@danwentzel

"A huge study of 20 years of global wealth demolishes the myth of 'trickle-down' and shows the rich are taking most of the gains for themselves"

https://www.businessinsider.com/how-bad-is-inequality-trickle-down-economics-thomas-piketty-economists-2021-12

Huge 20-year study shows trickle-down is a myth, inequality rampant

The bottom 50% of the world holds 2% of wealth, while the top 10% holds 76%, according to a huge data set that leading economists compiled for years.

Business Insider

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Jason Hunter

@weaselx86 @danwentzel The article is talking about world wealth inequality. Anyone reading this stuff on Mastodon is probably in that top 10% of richest people in the world that holds 76% of the wealth. It’s us.