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Nobody knows the rich like the Republicans and for them to impose the silly economic idea of Trickle-Down Economics was just one more con in favor of their rich friends. Reagan, the actor president, was able to pull it off because he was such a sweet and kindly grandfatherly figure. He would never try to cheat the American workers, would he? You bet. The Trickle-down idea works exactly as it was intended -- to enrich the wealthy and weaken the middle class. Worker compensation is stagnant since the Reagan years while worker productivity soars, enriching the corporations. Corporate profits have increased by 700% over the same period. Nothing trickles down.
"the silly economic idea of Trickle-Down Economics "
Those with the most money buy MORE products and services, etc. which keeps many employed, hence their money "trickles down to them.
A simple explanation many have never grasped.
The 10% "luxury tax" was tried and claimed an increase in tax revenue collected.
In fact, the fed LOST money.
Just the OPPOSITE happened. Those with the money to buy those products which keep all those employed, STOPPED BUYING.
Airplane, boat and RV business folded like cheap shirts, putting multi THOUSAND of people OUT OF WORK.
The money from those that could afford those expensive products quit buying and their money no longer "trickled down".
Then we can go to all the "2nd houses" the wealthy buy and the money they pay to remodel which employs many tradesmen, and furnish with newly purchased products.
Over the years, I’ve been promoted at my job, have changed jobs, and I’m at a point in life where my basic needs are met, I’ve got savings, and I can afford to do more than I did when I was just starting out early in my career. A Democrat would tell me that I didn’t work hard and that I was just “lucky” of course, but I know better than that.
With that said, I currently employ a personal trainer and a music teacher, as I’m learning a new instrument. I sometimes attend other fitness classes, like Pilates. I paid a landscaping company to landscape my yard this year, after getting some money back from my tax return due to the credit for installing solar panels. I also bought a small packraft from a local company that makes them in the US and these are a couple hundred dollars.
Yes, this is nice. However, I wouldn’t be doing these things if I was poor, as I would still be prioritizing basic needs. Totally agree that there are problems in general (like the real estate example you mention, although unfortunate, it’s not illegal for people to buy up lots of property) but to say (YOU aren’t saying this, but in general) that nothing ever ‘trickles down’ is a bit extreme.
We are pretty much in the same boat here. 15 years ago, we were somewhere in the lower, to mid-middle class. Now we fall in between the 5%-10% of the top earners in the country.
We try to spend our money with small business, and US made products. Things I normally would have taken care of myself , we now pay people to do. Lawn care, electricians, drywall work, painting, etc.
We have more money to do larger projects now, so again we pump that money into local businesses.
Nobody knows the rich like the Republicans and for them to impose the silly economic idea of Trickle-Down Economics was just one more con in favor of their rich friends. Reagan, the actor president, was able to pull it off because he was such a sweet and kindly grandfatherly figure. He would never try to cheat the American workers, would he? You bet. The Trickle-down idea works exactly as it was intended -- to enrich the wealthy and weaken the middle class. Worker compensation is stagnant since the Reagan years while worker productivity soars, enriching the corporations. Corporate profits have increased by 700% over the same period. Nothing trickles down.
Plenty of places eliminated the rich. How did it work for them?
Making laughable-excuses for the irresponsible behavior, that keeps poor people
in the same or worse financial-condition, many times throughout their lives.
Excuse-making on the same level of patheticness as the ridiculous claim of
something called food-deserts, being responsible for making poor people fat, LOL and SMH!
Libs don't require the rich to pay their fair share, all you have to do is read today's news about the Senate's $433B bill that scraps the elimination of the carried forward interest deduction for the top 1%.
The Libs allowed the top 1%'s massive tax dodge to remain intact.
They know most Americans don't understand it, so they take advantage of their ignorance.
All voters need to know is the Dems just allowed a massive tax loophole to remain for the top 1%, while making the 99% pay more for everything they buy in the future by jacking corp taxes.
The real ignorance is you people think taxing the rich people will make your life better.
And you don’t know they have tried this scheme many times and each time it ended with millions of dead - mostly the poor.
And you think the government spending would benefit you? Keep your dreams. The government spending only benefits the special interest groups at the expense of the poor.
Every government regulation without exception keeps the poor people poor.
Yet you people vote for the democrats over and over again.
I well remember back in the aughts when Reagan was the prez. The economy was suffering, and the job market wasn't auspicious for new graduates. The job market had dried up (1982 & 1983), inflation was higher (over 6%), and it was back in the 80s when I first heard the term, "trickle-down economics." An oil crisis was on as well.
It's almost like these things occur in cycles that repeat over the decades.
As we got fatter our spending on healthcare went up by multiples, Universities became palaces, everybody got cheap mortgages, and we lifted billions out of poverty in SE Asia. it was way more than a trickle however it was not passed down to the middle class of the 80's and beyond.
Because it is supposed to be trickling down, according to the theory. Not to mention that without the workers, the business doesn't operate or make any money. .
Your ideas are naive and show lack of experience on the subject. It does trickle down but it's based on merit to the ones that most deserve it. The blunt truth is that lots of "the workers" are not critical and can easily be replaced by people who want the jobs more. Your skills and market forces determine your value and the leverage you have to get a drink of what's trickling down because in good economies there is plenty trickling down. It's mostly on you if you're remaining dry.
So that you know I'm not making this up, let me give you a real life picture of how and to whom trickle down flows. I'm talking about how corporate America works, not small business because it's the whole corporate CEO/executive structure you're critiquing. There are HR rules over how much merit increase, bonus percentage and LTI (long term incentive) people are awarded and this depends on grade, merit and the success/health of the business. What workers don't understand is that middle and upper management has behind-the-scenes processes for adjusting this for workers who have above average to high value to the company. Employees are ranked against one another. We know exactly where you stand relative to your peers. Everyone has a couple of secret factors attached to them in addition to the rankings. 1.) In danger of leaving. This is someone who is behind the curve on promotion and pay but performing highly. Those are the people who up and leave to find better circumstances. B.) Succession. The old adage "Everyone is expendable" isn't exactly true. We evaluate everybody's successor. Should Smith leave, Jones could take over Smith's job function. Some people have no successor. They are alone in a key skill and if they have high impact to the business as well they get very special attention.
Everyone's value x threat is assessed and those people high on that scale get merit, bonus and LTI far in excess of the stated HR guidelines and rules. Wealth flows downhill and it can in a big way. It's just that the workers who are getting the gravy aren't talking about it and neither is the company ... as it should be. Your reward is commensurate with your value and replaceability also as it should be. It's on you more than you think.
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