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I would certainly say Bill Gates is wealthy beyond belief and he certainly has proved trickle down works... both in those with jobs tied to him and the operating system and to the billions given to charity...
Now, you are moving the conversation along.
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I don't know how much bigger a picture one could have.
My god-sister got a part time summer high school job for a little start-up in Cupertino CA with 150 employees... she liked working for Apple so much, she went full time upon High School graduation...
Her working as clerical help made it possible for her to buy a home in a very expensive market with nothing more than a high school diploma...
How else would anyone describe her success if not for trickle down... someone at the bottom of the employment ladder making enough to buy a home with no special skills, talent or education?
A poor person has never offered me a job.
In the private sector, trickle down can work. Just as you note. Many people have made a very good living off of Bill Gates.
You can't take from the poor and middle class, give it to the rich and then ask them for a small percentage back to provide crumbs to those you stole from though and see people do well over all.
People believe in trickle down economics because they don't see the big picture. It never hit home for the longest time until now. Also, the rich have the means to cover up all the flaws in the system and place the onus on the poor because the poor and working class lack the wherewithal to defend themselves the way the rich do. We have this mindset in America that whenever we throw money to the rich and hand out golden parachutes, it's good for business. Yet when we give money to the poor and working class, that's socialism. Ronald Reagan was a better actor than he ever was a president.
If we have this mindset then why was there a national outcry over the bailouts? Why were there people marching in the streets against them? Why is "Too Big to Fail" both a book and a movie?
And what dooes corporate welfare have to do with trickle down economics anyway?
I would certainly say Bill Gates is wealthy beyond belief and he certainly has proved trickle down works... both in those with jobs tied to him and the operating system and to the billions given to charity...
I don't know how much bigger a picture one could have.
My god-sister got a part time summer high school job for a little start-up in Cupertino CA with 150 employees... she liked working for Apple so much, she went full time upon High School graduation...
Her working as clerical help made it possible for her to buy a home in a very expensive market with nothing more than a high school diploma...
How else would anyone describe her success if not for trickle down... someone at the bottom of the employment ladder making enough to buy a home with no special skills, talent or education?
A poor person has never offered me a job.
A cynic might ask, How many existing local residents were displaced (priced out) by this trickle down?
Gentrification is one of the key things that caused the housing bubble to burst.
How so?
In Chicago gentrification is basically the yuppie artists buying homes in areas that weren't that nice. They were already priced out of the nice areas. I don't see how this was a key factor.
It's good for the neighborhood and property values. Seniors are exempt from property taxes, so the increase in property value doesn't effect them that much.
They gentrified the neighborhoods because they like all the other land developers thought that forcing out all the minorities would get rid of the gang problems when in fact it displaces it. It's a very symbiotic effect though. All that does then is cause the indigents to move to another area and bring the property value down.
I can see your point, but I don't see how gentrification was a key factor in the housing bubble. Gentrification is a pretty slow process.
IMO i think alot of people know it doesn't "trickle down", They just want an excuse to cut taxes for the wealthy
Its mostly stupid lazy poor redneck hillbillies that believe that. They fantasies about all that money trickling down into their hands. They think that if they vote for the elitist bastards, they will be reworded for their support. In reality, that never happens. Because the rich greedy bastards, didn't get all their money by letting it trickle away from them.
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How so?
