slackmaster50 years of tax cuts for the rich failed to trickle down, economics study says - CBS News
Trickle down? It was called VOODOO fucking economics in its day. Plenty of analysts and other people with half a brain understood what a travesty it was and is. BUT too many people at the bottom of the food chain keep getting convinced that it works. :/
gowanGeorge HW Bush called it that in 1980. It was known as horse and sparrow originally as the horse ate the grain and the birds picked at its shit.
Wow, that old name actually makes a lot of sense. I wonder which marketing person helped Reagan with the new dumb ass name. It obviously worked but I don’t get it. 1) trickling sounds gross 2) lol why would I ever EVER believe that if I let rich people keep all their money via incredibly unfair tax breaks, someday I’ll magically get some of that money? It would sound dubious even if it came from someone I already personally knew and had trusted for decades 3) even if I believed it, why would I want the extra step of continually paying a higher tax rate than companies, hoping one day the theory pays off.
This sure was a doozy of a lie. How they ever convinced anyone of it is… very strange.
Because in 1983, the last and only time this worked, we cut taxes and as a result we took in more tax revenue as avoidance/evasion was more expensive. This is why some think the Laffer Curve has more validity than it should be ceded