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Trickle down economics is BS

OhMars

OhMars

MEH!
A new study by London School of Economics says trickle down economics doesn't work.

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A huge study of 50 years of tax cuts for the wealthy suggests 'trickle-down' economics makes inequality worse
Grace Dean
Dec 16, 2020, 7:30 AM

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President Donald Trump cut taxes during his time in office. Rogelio V. Solis/AP
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  • Large tax cuts for the rich lead to higher income inequality and don't fuel economic growth or cut unemployment, a new paper by academics from the London School of Economics and King's College London says.
  • Their analysis of 50 years' worth of tax cuts for the wealthy in 18 countries counters arguments that such cuts "trickle down" to the rest of the economy.
  • "Cutting taxes on the rich increases top income shares, but has little effect on economic performance," the researchers concluded.
www.businessinsider.com

A huge study of 50 years of tax cuts for the wealthy suggests 'trickle-down' economics makes inequality worse

Cutting taxes boosts incomes for the wealthy "but has little effect on economic performance," the academics David Hope and Julian Limberg said.
www.businessinsider.com www.businessinsider.com
 
Why is it poor white folks and some blacks believe in it... its gotta be more than ignorance because they can’t have seen it work.
 
A great example of this is the then governor of SC Nikki Haley had plans of running for president one day. Up into that point she had no political capital to stand on.

What Nikkie Haley did was get 100s of jobs in Charleston South Carolina. But what she did was leverage the fact that Boeing, the company she was doing business with. Would pay absolutely no state taxes, and that no unions could be formed within a certain time frame.

So Boeing came along and bought massive amounts of land and out massive amounts of people to work. Now the way this was explained was yes Boeing doesnt pay taxes but the exchange with be that those workers taxes would offset it.

So boeing now is one of the largest employers in charleston. But the trickle down is that the additional people that came to the city made for more cops, more traffic, more schools, basically more services that were needed to accommodate these people.

So taxes end up going up and in the end, the tax input doubled on the people. So there was more trickle up than down. Cause that tax money goes into appeasing the same company that wasnt paying taxes in the first place.

Added to that, because boeing is suck a large employer. It has local politicians by the balls cause just a threat of boeing leaving cause a politician wont play ball. Is enough to freak any politician out to do anything about it.

In fact, the chairman of the local county council was given a position on the aviation board on boeing to make sure this dont happen.

But I know all of this..so i know who janky it is. The average voter dont know and that's why it's gone continue.
 
Alle'Oop said:
A great example of this is the then governor of SC Nikki Haley had plans of running for president one day. Up into that point she had no political capital to stand on.

What Nikkie Haley did was get 100s of jobs in Charleston South Carolina. But what she did was leverage the fact that Boeing, the company she was doing business with. Would pay absolutely no state taxes, and that no unions could be formed within a certain time frame.

So Boeing came along and bought massive amounts of land and out massive amounts of people to work. Now the way this was explained was yes Boeing doesnt pay taxes but the exchange with be that those workers taxes would offset it.

So boeing now is one of the largest employers in charleston. But the trickle down is that the additional people that came to the city made for more cops, more traffic, more schools, basically more services that were needed to accommodate these people.

So taxes end up going up and in the end, the tax input doubled on the people. So there was more trickle up than down. Cause that tax money goes into appeasing the same company that wasnt paying taxes in the first place.

Added to that, because boeing is suck a large employer. It has local politicians by the balls cause just a threat of boeing leaving cause a politician wont play ball. Is enough to freak any politician out to do anything about it.

In fact, the chairman of the local county council was given a position on the aviation board on boeing to make sure this dont happen.

But I know all of this..so i know who janky it is. The average voter dont know and that's why it's gone continue.
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and this is why u should encourage small biz

and also tax the hell out of large corporations and billionaires

u should also lower minimum wage (MW) and encourage MW workers to unionize

hell u could even add universal basic income (UBI) as an additional protection
 
Mr BFK said:
and this is why u should encourage small biz

and also tax the hell out of large corporations and billionaires

u should also lower minimum wage (MW) and encourage MW workers to unionize

hell u could even add universal basic income (UBI) as an additional protection
Click to expand...
Lower minimum wage? Why and to what?
 
Focal Point said:
Lower minimum wage? Why and to what?
Click to expand...

the reason MW should be lower is so those workers have the opportunity to negotiate

also u make it more affordable for small biz to operate

mathematically it's better having 10 people employed getting paid what they are actually worth

instead of 5-7 people working for a salary of artificial value, and the others not working at all

plus if u add the ability to unionize, mofos would prob end up getting paid way more than MW anyway

then throw in UBI, and there is a sufficient safety net for the working poor
 
Mr BFK said:
the reason MW should be lower is so those workers have the opportunity to negotiate

also u make it more affordable for small biz to operate

mathematically it's better having 10 people employed getting paid what they are actually worth

instead of 5-7 people working for a salary of artificial value, and the others not working at all

plus if u add the ability to unionize, mofos would prob end up getting paid way more than MW anyway

then throw in UBI, and there is a sufficient safety net for the working poor
Click to expand...
Andrew Yang's thinking... somewhat
 
Focal Point said:
Andrew Yang's thinking... somewhat
Click to expand...

only on UBI tho..........

but my issue is we don't educate/encourage people to really be prepared in order to support themselves

right now too much of the American economy relies on taking advantage of workers, using asymmetric info, and/or using leverage to make a profit

meanwhile they teach sex ed in public school, but not civics or financial literacy...........and even the sex ed isn't sufficient
 
Funny shit is this aint the first study to prove this. Trickle down economics been proven to not work a bunch of times already
 
Mr BFK said:
and this is why u should encourage small biz

and also tax the hell out of large corporations and billionaires

u should also lower minimum wage (MW) and encourage MW workers to unionize

hell u could even add universal basic income (UBI) as an additional protection
Click to expand...

Agree with everything except lowering MW because no matter what you negotiate a hungry mfer would be willing to work for less.

If I cant find a job and have mouth to feed im working for scraps. Making $10 better than $0. Thats why lowering minimum wage wont work
 
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