50 years of tax cuts for the rich failed to trickle down, economics study says

They spent those 50 years convincing half the voting population that evidence doesn’t matter, unfortunately.

Oh no ... it did work ... it worked spectacularly ... for the top wealthiest people in the world

They figured out that they could cut the amount of taxes they had to pay, collect even more wealth for themselves and convince everyone around them and all the poor people out there like you and me that it was all perfectly acceptable, and sensible and that we should all keep electing government officials to keep that system going while we all paid for it. The wealthiest figured out how they could keep their money and make us all pay for it. And they did it for 50 years. And they're still doing it.

I think it worked fantastic ..... for them.

How about we try some trickle up economics for a while? That's where you give money to people who actually need it, and let businesses compete for them as customers, and the revenue will trickle up to successful companies.

Might as well, right?

This will never stop being funny

Yeah, no shit…

Saw this earlier today, just saying.

Yea, it did the exact fuckin opposite. Like we knew it would.

Economists have written the same article for years.

This is like that Onion school shooting article that just changes the location except they count how many years it's been since Reagan

Reagan pushed Horse and sparrow economics. If you give the horses enough grain, eventually the sparrows will get to eat a little out of their shit.

Of course it didn't work, but only because we didn't give it 150 more years! I promise guys, really, just 180 more years and it will slightly trickle down! It's been scientifamicbly proven that in just 230 more years it will absolutely start to work!

-Study paid for by the fuck you I got mine, but I want yours too foundation.

Because the plan all along is generational theft.

And they used that money as a cudgel to make political bribery perfectly legal in Citizens United, as if it wasn't already rampant. They own this fucking place above board now.

We get a vote on how to, or if we even should address the social issue symptoms of our oligarch class rigging the economic game, ie who to blame or what to spend on the ever dwindling crumbs left for the Commons.

We don't get a vote on the economy itself, that's above our paygrade. From Pelosi to McConnell, "herp derp the free market we're bribed to rig for capital is working just fine... For our portfolios! 🤣"

Almost like this was the plan all along. The wealthy looking after their own interests to their benefit.

Every couple years, another study that shows the same thing. The rich got richer and the middle class and poor lost.

Is this going to be like UBI studies, where the news pretends every one of hundreds of studies is the one that is breaking this news for the first time? My economics professor was taking the piss out of supply side economics over a decade ago.

Economics: explaining tomorrow why the predictions of yesterday didn't come true today

It's by design. But in a serious country, serious world, or amongst serious people, we would've been laughing at the "Laffer curve" the moment Laffer ejaculated it into the napkin he first wet dreamed it upon.

But instead because we're both as laughable as the curve itself and because the rich, industrial asshats in this country were foaming at the mouth for a thin, arguably objective, seemingly mathematical piece of horseshit to cover their "steal from the poor and give to the rich" policy preferences, reproductions of Arthur's ejaculate was disseminated like it was the fucking Mona Lisa.

It should never be said that conservatives are conservative in the normal, adjective sense of the word. For the last fifty years, they've been tearing at the fraying seams of society and have been using "trickle down economics" as their seam ripper, while simultaneously blaming anything and everything other than their objectively horrific policies for the havoc wreaked.

Yeah, no shit. Something anyone remotely educated on the topic has known since the policies went into place. The problem isn't that the information wasn't there, it's that no one with enough power to benefit from it is willing to do anything about it.

"Trickle down economics"

They're literally saying, "we're pissing on you."

It's almost like every word a conservative (and neoliberal) says is deception or manipulation.

This cannot be solved peacefully.

Indeed, Ronnie was and still is a big POS in my book. The USA should bring the tax brackets from the 1960's back.

That just sounds like regular corruption ?

#1 reason the country is a shit hole.

We know, we know.

What do you mean, corporations that have a legal obligation to maximize value for shareholders weren't passing money on to consumers out of the goodness of their hearts? Nobody could have seen that coming! /S

We need to stop shaming people for believing in religion and start shaming them for believing in trickle down.

Shocked. I am shocked to the core.

I'll never understand how this image wasn't ridiculed from the start. I mean if you are talking about "trickling down", wouldn't the bottom be the place where the thing that is trickling down collects?

Of course money trickles down, it trickles down from the poor to rich.

People should be always taxed more depending on how much more they make starting at 500,000$ a year for a single person imo. Once you hit that threshold you're far above a normal human....far above.

That's what happens when you don't set an upper limit for wealth

XKCD: Todays 10000 is just as relevant for this topic as it is for mentos and diet pop.

we should not stop bringing this up until it isnt relevant anymore. Which isnt going to be in my life time, likely, so you people everywhere who are either just reaching a point in your life where this IS news to you, or you have people in your circles that havent got the message yet, this seems like a good report to reference.

It's not enough to know or believe a thing.

It's being able to get that info the heads of people who don't know or haven't accepted it yet, by hook or crook, that we must be diligent for and this article, helps us do that.

Don't be only be bitter and cynical, if you are, also be part of the needed majority of people who will champion the bed to take down this flawed policy. Even if you only carry the torch to pass on to those that come after us.

It's s fight with fighting. Spread the knowledge don't make people feel bad for not already knowing this or believing it. Maybe this is the straw that breaks the supply side camels back

Lol. Put entertainment people in charge of the economy again. Has the public even seen how they cook the books in that industry?

I have two words: Fuck Reagan.

😲

In the same way that a Ponzi scheme failed to pay its bagholders. It's by design.

No shit ...

Water is wet etc etc

Also: water is wet

https://theonion.com/reaganomics-finally-trickles-down-to-area-man-1819569412/

I remember Ross Perot talking about the lack of trickle-down back in the 90s, but he was old, had funny big ears, showed a lot of confusing charts and was a billionaire, so why listen to him.

I will never get why it is the most well off of us that they give the tax cuts too. I mean, other than bribery of course. Even if it did work, how long were they supposed to wait? "I know little Timmy needs braces, and you can't afford to feed them them, but just wait a little longer! Musk is almost done with dicking around with the election. I'm sure it'll trickle down then!"

I am Jacks complete and utter disbelief. I lead him to depression, and he dies of malnutrition and liver failure.

What's outrageous is that this is being treated as news, when it's not new, e.g. (from 2021) https://www.thebalancemoney.com/trickle-down-economics-theory-effect-does-it-work-3305572

We've known this that since at least 2001, if not earlier, https://www.capitalismmagazine.com/2001/09/the-trickle-down-economics-straw-man/

Quells surprise

Shit I didn’t need an economist to tell me that.

No!!! Say it ain't so!!!

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It's kind of about time we blow this bladder apart.

This, and other thought provoking commentary in this month's upcoming edition of "DUH!!!".