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Old Today, 01:32 PM
 
34,066 posts, read 23,673,043 times
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Quote:
Originally Posted by EDS_ View Post
That's utterly untrue. Many respected economists support key notions within supply side theory.


You're speaking of now. I was speaking of when it was instituted. Yes, a generation later there has been the movement of economists to pro wealth funneling policies. This has been done purposefully and systematically.


It used to be a thought in economist and policy circles that a "rising tide lifts all boats". But tides aren't pulled up fro the captains cabin. They never will be.


Quote:
Originally Posted by Elliott_CA View Post
Well, that's a dark take on it. If that's true then we might as well open the gates at the Treasury and Fort Knox and just let the wealthy walk in and help themselves.


They already have. They ultra rich are the ones that own the political system, and form the laws and policies. They do so to benefit themselves. This isn't a controversial take at all.
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Old Today, 01:34 PM
 
4,477 posts, read 2,367,331 times
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Quote:
Originally Posted by eliza61nyc View Post
trickle down economics has been tried as far as I know since Regan, it has not worked yet so not sure who thought it would now.
Says who?
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Old Today, 01:37 PM
 
10,757 posts, read 5,272,485 times
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I think it’s time to stop listening to economists in general. They know nothing.
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Old Today, 01:59 PM
 
2,502 posts, read 926,475 times
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Quote:
Originally Posted by Elliott_CA View Post
"Most firms haven't accelerated hiring or investments as a result of the tax-cut law enacted by Republicans last year, according to a new survey by the National Association for Business Economics (NABE). Eighty-one percent of NABE members surveyed said the 2017 law, known as the Tax Cuts and Jobs Act, hasn't led their firms to make changes to hiring or investment plans"

So we handed out tax cuts -- funded by increased public deficit financing -- and 81% aren't hiring employees nor investing in capital improvements. That means we are going to spend $1 Trillion in deficit dollars and get very little economic stimulus or activity in return?

All signs in the economy point towards restrained demand, not a shortage of capital (supply). Doing supply side policy when there's already an abundance of supply is, as Keynes put it, "pushing on a string."

Trickle down, once again, has proven to not trickle. Capital injected at the top is sticky, it stays up there.

History backs up the lack of trickle down. It's not a new thing but people still fall for lies told by those in power and in money so we won't protest against bail-outs and tax cuts for the rich.

Money is not an enemy, rich people are not an enemy, but Greed is. An economy based on Greed is bound for corruption. A capitalist democracy is an oxymoron. The power of money overshadows the power of the people.
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Old Today, 02:02 PM
 
3,214 posts, read 1,357,972 times
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Quote:
Originally Posted by timberline742 View Post
This was known when it was instituted. It was made up from the beginning. No respected economist, or any economist really outside far right think tanks, gave it any credence even in the early 80s. It was instituted specifically to channel more wealth into the top 1%, and by that measure, it has been incredibly successful. So, in fact, it did work as intended.
End thread.
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Old Today, 02:02 PM
 
4,477 posts, read 2,367,331 times
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Quote:
Originally Posted by kitty61 View Post
History backs up the lack of trickle down. It's not a new thing but people still fall for lies told by those in power and in money so we won't protest against bail-outs and tax cuts for the rich.

Money is not an enemy, rich people are not an enemy, but Greed is. An economy based on Greed is bound for corruption. A capitalist democracy is an oxymoron. The power of money overshadows the power of the people.
What economy does not have corruption?
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Old Today, 02:03 PM
 
Location: midvalley Oregon and Eastside seattle area
3,392 posts, read 1,545,733 times
Reputation: 2677
Reports say that the 2018 stimulus will begin to wear off in 2019 and deficit will be really really bigly. Unfortunately the Democrats may see the worst of the problems and their solutions may not be liked. Best to have the current powers in power solve the unsolvable. I'm playing short investments in my retirement accounts.
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Old Today, 02:16 PM
 
Location: Shawnee-on-Delaware, PA
3,767 posts, read 3,379,197 times
Reputation: 6840
Quote:
Originally Posted by leastprime View Post
Reports say that the 2018 stimulus will begin to wear off in 2019 and deficit will be really really bigly.
Perfect time to institute Medicare For All and of course, Demand Side Economics (better known as Socialism).

It can't miss: Make everything so expensive (healthcare, college loans, child care, taxes) that the middle class will be unable to afford it and will turn to the government to make it all "free". Voila! Demand Side wins!
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Old Today, 02:18 PM
 
4,477 posts, read 2,367,331 times
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Quote:
Originally Posted by jtab4994 View Post
Perfect time to institute Medicare For All and of course, Demand Side Economics (better known as Socialism).

It can't miss: Make everything so expensive (healthcare, college loans, child care, taxes) that the middle class will be unable to afford it and will turn to the government to make it all "free". Voila! Demand Side wins!
$100 minimum wage!
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Old Today, 02:21 PM
 
3,214 posts, read 1,357,972 times
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Quote:
Originally Posted by jtab4994 View Post
Perfect time to institute Medicare For All and of course, Demand Side Economics (better known as Socialism).

It can't miss: Make everything so expensive (healthcare, college loans, child care, taxes) that the middle class will be unable to afford it and will turn to the government to make it all "free". Voila! Demand Side wins!
Oh yah???

I'll do you one better. What they should do is inflate the market by stealing from future generations, and causing insurmountable, unrecoverable debt, and the destruction of democracy in order to "save the banks" and cause a massive disparity in wealth.

Oh, they already did that.

Tooooo late.
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