So-called Trickle Down Economics omits, which were made popular back in the 1980s by Ronald Reagan. For anybody who is too young to remember, the idea was that if you gave the top-earners the tax breaks, then they would be inclined to turn around and reinvest it in their workers (so the top would then send money down to the bottom). Sure, sounds great in theory (as most things do), but in practice that did t happen. In fact, if anything, what we have today is a direct result of trickle down economics, and we know (we already knew) that it ain’t working.
AKA Supply-Side Economics, AKA
REAGANOMICS 🤘🍕🐢
Yup. And he was the model for politicians to this day. Even Obama made efforts to emulate that twat.
Everyone points to Nixon as the catalyst for today’s political climate, and maybe they’re right. But I personally rank Reagan as the top-dog for fucking this country up. After all, if it weren’t for Raegan‘s dirty tricks, we’d have had Carter for a second term. Who knows what kind of Utopia we’d be in today if Carter had won.
I love that one of the first things Reagan did was remove the solar panels from the roof of the white house. What a pointless twat move.
https://youtu.be/VjCyVfBiwpE?si=8MLekJhcSOHIWsdk
Reaganomics baby!
I’m curious, is there a consensus that Reaganomics was faulty entirely?
Intuitively I feel like a little bit of both is true.
If a business owner is taxed out the yin yang then he just has less capital to spend on growing his business. If he wants to grow his business by hiring more people, or other local spending, perhaps that is an undesired effect (If you believe a small business in growth mode is a more powerful engine than a government allocating spending to low bid contractors somehow)
On the other hand if he doesn’t want to grow his business by hiring people, for example by buying AI powered robots to do the jobs instead, and then laying off all the staff, then I say tax away.
Your fundamental mistake here is assuming any SMEs have the scale and creative accountants to truly take advantage of this. In practice, SMEs have their lunch eaten while the mega corps really take advantage. Those large companies don’t even buy robots with these handouts, generally. They use it for stock buy-backs to enrich shareholders.
Its all about who received it, man.
And how much they paid off the relevant (conservative) lawmakers.
Because it’s the rich who set the narrative
Time to sharpen the guillotines.
If you just deploy the guillotines, then new rich people will crop right back up. You gotta change the underlying system so that the situation where rich people rule over others is impossible.
The guillotines are to remove the obstacles preventing change to the system
Or just build guillotines exponentially.
Still, it’s a start…
Don’t bother it’s better if they make more noise
Axes are more portable, just saying.
In practice, cancelling student debt would be a great stimulus since people would have more money to spend, whereas tax cut money is pretty much gone.
Yeah I’ve been trying to figure out why republicans want to cancel student debt forgiveness so bad as it literally taking money out of the economy. Even worse, that money is already spent. I guess they assume people just hold onto all that extra money, now the government wants it back… Like what the duck. My credits already shot because of this mess.
Because thoughts and prayers.
Well one helps the general population, and the other helps rich people.
Because it’s the same rich people that own the media.
Because regular people don’t have the means to control the narrative.
Tax cuts for big companies helps regular people and students in debt too, as they’re now able to create more jobs and innovate further! They’re definitely not going to use the money to enrich themselves further and buy new yachts while still exploiting their workers and laying them off when it suits them, that would NEVER happen.
My thought is this is the twentieth time I’m seeing this on lemmy
They are both bad.
