Robert ReichOct 23, 2024

Since 2017, the 15 largest corporate beneficiaries of Trump's tax cuts have spent $839 billion on stock buybacks.

These buybacks didn't create more jobs, increase wages, or grow the economy — but they did juice CEO pay.

Nothing trickled down to workers.

Show threadKevinOnEarth
@rbreich
It is actually a good demonstration of #TrickleDown – if we remember that the popular concept is completely upside-down!
The #MoneyCycle is very similar to the #WaterCycle: Rain on the highlands feeds millions of tiny streams (low incomes) that *Trickle Down* & feed the crops, populations, towns & cities & the #economy generally, while excess water fills rivers & finally flows into the oceans (the 0.01%).
Rain on the oceans (Top-rate #TaxCuts, bailouts,+++) feeds none of the above.
Oct 24, 2024 at 12:28amWeb
Show threadKevinOnEarthOct 24, 2024
@rbreich
Allow me a massive Segway from my #WaterCycle analogy to economist Mariana Mazzucato's work with eminent colleagues on the (literal) #EconomicsOfWater & the #HydrologicalCycle! Some impressive animations here: https://watercommission.org/

https://bird.makeup/users/mazzucatom/statuses/1849079700531908669
The Economics of Water - Valuing the Hydrological Cycle as a Global Common Good

Water is essential for life. It moves in complex, often invisible ways, all around us. And this water is under threat.