Many Republicans agree - 'trickle-down economics' has failed

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John Q. Public
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Many Republicans agree - 'trickle-down economics' has failed

Post by John Q. Public »

Most economists, as well. Even many CEO's and general rich people are coming to the realization that offshoring, low-wage jobs, gig work and all those other "features" of supply-side economics aren't the way to build a strong middle class and to fulfill the American Dream.

I don't know if I've said it here, but Biden's and Democrats' biggest job isn't to rush through a bunch of Progressive legislation or to stuff the Court or to cancel student debt and give away Bachelors degrees, it's to make life better for American people - especially for American Republicans. I think he may be on a path to doing that.
A 2020 study by the London School of Economics of 50 years of data from 18 countries showed that the only significant effect of significant tax cuts to the rich was to increase income inequality with little benefit to unemployment or economic growth.

According to the Ipsos poll, 51% of adults agreed with the statement that "trickle-down economics have never worked in America," while 26% disagreed.

Among Republicans, four in 10 agreed that it was a failed theory, while three in 10 disagreed. Among Democrats, seven in 10 agreed that trickle-down economics never worked, while two in 10 disagreed.

Overall, 73% said they approved of Biden's economic message to Congress on Wednesday, according to the poll.

https://www.reuters.com/world/us/many-r ... 021-04-29/
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Re: Many Republicans agree - 'trickle-down economics' has failed

Post by Wabash »

History shows that a higher rate on the 1% and corporate interests was good for the economy in the post WW II era (1945-1980).

The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse-and-sparrow theory", writing:

Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: 'If you feed the horse enough oats, some will pass through to the road for the sparrows.'

Will Rogers was more succinct.
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Re: Many Republicans agree - 'trickle-down economics' has failed

Post by TealeG1 »

funny how the capitalist pyramid collects more and more money at the top. the sides just get steeper.

covid has shown how the policies are created in a crisis and we go from one crisis to the next getting poorer as a group.

only way to save now is in investment, which changes old money fundamentally and makes things even more precarious with the advent of crypto making legacy investing seem doomed to fail, yet still having to gamble on a theoretical test case on the theory of currency actually working.

awesome.
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