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Actually it doesn't rich people buying stuff like that helps the economy very little. You want more of the masses buying houses and cars not a few rich people buying bigger houses and more expensive cars.
Trickle down economics was a scheme Reagan's Wall Street and banker cronies tricked Reagan into thinking was a good idea. Reagan didn't know any better he was just an actor for gods sake it's not like he was a Ph.D. in economics or something. He was going by what they told him.
Name one company that was NOT built by the rich people.
Trickle Down Economics never works. Well it used to back in the day. Thanks to Ronald Reagan, when he lowered taxes to the wealthy. The wealthy did not trickle their income to the masses. Instead they kept money for themselves or invested in stocks or offshore accounts. This type of economic system continued well into the Bush, Clinton, Bush and even Obama years. Trump wants to lower corporate taxes, but he needs to persuade the wealthy to put money back into their business therefore helping employees and create jobs.
Reagan's tax cuts were across-the-board, for all tax payers, not just "the wealthy."
Interesting historical perspective on the issue from the Richmond Times-Dispatch:
<<They managed this con job partly with a propaganda technique that will be familiar to modern Americans, but hasn’t received the coverage it deserves in our sesquicentennial celebrations. Starting in the 1840s wealthy Southerners supported more than 30 regional pro-slavery magazines, many pamphlets, newspapers and novels that falsely touted slave ownership as having benefits that would – in today’s lingo – trickle down to benefit non-slave owning whites and even blacks. The flip side of the coin of this old-is-new trickle-down propaganda is the mistaken notion that any gain by blacks in wages, schools or health care comes at the expense of the white working class.
No, that's not the flip side. That makes no sense at all.
People investing money in businesses create jobs and prosperity for others. .
The investment can only really happen if there is demand. The common people need an expendable income and if they have it, hoarded investment money will definitely chase it.
A decent Federal minimum living wage, or tax breaks and credits for the poor and middle income are much more effective because the money is recirculated quickly, more often than not right were they live. Demand is created at home in the USA.
Tax breaks for the rich are 'no strings attached', that excess "supply side" cash can be spent on exorbitant luxuries or be stashed. They can invest that extra money in China or India if they want. We have already seen the dire effects of this con job.
It is a failed policy of the past, the experiment is over and it has proven to be a poor economic stratagem for bringing prosperity to the common working people of the United States. All it has resulted in is an ever-widening income inequality, an emerging caste system.
Anytime I see someone use the term "trickle-down" these days, I assume they're eating up whatever their leftist sources are feeding them. It's always an attack on the free market, and people who support free markets (usually libertarians) never talk about trickle-down. I only ever see it from the left...just bothers me.
Actually it doesn't rich people buying stuff like that helps the economy very little. You want more of the masses buying houses and cars not a few rich people buying bigger houses and more expensive cars.
Trickle down economics was a scheme Reagan's Wall Street and banker cronies tricked Reagan into thinking was a good idea. Reagan didn't know any better he was just an actor for gods sake it's not like he was a Ph.D. in economics or something. He was going by what they told him.
Yes of course, just a "tricked" actor. That is exactly how we should all describe Ronald Reagan.
You are not defending trickle down here. You are defending capitalism. Trickle down economics needs to be separated from the profit motive. Believe me if the movie executive could make a profit with 100 vs. 1000 employees, there would be 900 layoff notices in the mail tomorrow.
Americans have been sold a bill of goods for thirty years that trickle down works. How are y'all doing out there? Is it a success?
Trickle down is a tax break for the wealthy that can be invested in any one of a thousand ways.
A billionaire will spend as much money as he/she sees fit. Let's call that amount X.
The billionaire makes X + Y where Y is money that they don't spend but they invest in that hundred ways that I mention above. When you cut their taxes it adds to Y. X remains the same. They spend the same amount that they would have anyway. Trickle down is no break for any class but the rich.
Guess who the US's largest investor is...
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