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 RandAlThor   ( @RandAlThor@lemmy.ca )  to Canada@lemmy.ca · 2 years ago

50 years of tax cuts for the rich failed to trickle down, economics study says - CBS News

www.cbsnews.com

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50 years of tax cuts for the rich failed to trickle down, economics study says - CBS News

www.cbsnews.com

 RandAlThor   ( @RandAlThor@lemmy.ca )  to Canada@lemmy.ca · 2 years ago
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50 years of tax cuts for the rich failed to trickle down, economics study says
www.cbsnews.com
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Tax cuts for the wealthy didn't boost the economies of the U.S. and 17 other countries — but they did worsen income inequality.
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  •  floofloof   ( @floofloof@lemmy.ca ) 
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    2 years ago

    The wealth was never meant to trickle down. That was just a line to keep the proles subservient and waiting.

    •  EhForumUser   ( @EhForumUser@lemmy.ca ) Banned
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      That was just a line to keep the proles subservient and waiting.

      Huh? The trickle down line comes from comedian Will Rogers who was making a joke about how President Hoover, who was an engineer, was accustomed to water trickling down, but that he didn’t realize money trickles up.

      It was a line to serve the exact opposite – to tell the ‘proles’ that the economic plan was fundamentally flawed.

      •  teuast   ( @teuast@lemmy.ca ) 
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        2 years ago

        yeah, but it was repurposed for that. “pulling yourself up by your bootstraps” also has its origins in a saying referring to something that is impossible, but was later repurposed into having the opposite connotation for most people.

        •  jonne   ( @jonne@infosec.pub ) 
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          Also when conservatives quote MLK about ‘judging people by the content of their character’, and nothing else.

      •  floofloof   ( @floofloof@lemmy.ca ) 
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        2 years ago

        Thanks. I learned something. I grew up hearing it discussed seriously in the 1980s, by which time I’m not sure everyone remembered the critical origin you identify. As I remember it, during the Reagan/Thatcher years many people treated the matter of whether and how the wealth would trickle down as a real live question.

    •  girlfreddy   ( @girlfreddy@mastodon.social ) 
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      @floofloof @RandAlThor

      Yup. Reagan and Thatcher just did what their rich friends wanted them to do, and fucked us and the earth for a long time.

      •  BestBouclettes   ( @BestBouclettes@jlai.lu ) 
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        2 years ago

        Macron is doing that to France right now. It’s not gonna be pretty.

  •  snoons   ( @snoons@lemmy.ca ) 
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    The only thing trickling down is piss. People still drink it though.

    •  tsonfeir   ( @tsonfeir@lemm.ee ) 
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      deleted by creator

  •  TemporaryBoyfriend   ( @TemporaryBoyfriend@lemmy.ca ) 
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    2 years ago

    In other news, water is wet. Heat… hot!

    •  sab   ( @sab@kbin.social ) 
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      2 years ago

      The only news here is that it’s in the news.

  •  hauntology   ( @hauntology@lemm.ee ) 
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    Reagan was the one who stabbed the American Dream to death and they worship him for it.

    •  CanadaPlus   ( @CanadaPlus@lemmy.sdf.org ) 
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      2 years ago

      Never forget, “politician” is a sales job with an optional secondary management component.

  •  zcd   ( @zcd@lemmy.ca ) 
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    2 years ago

    We should take it from them now

    •  girlfreddy   ( @girlfreddy@mastodon.social ) 
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      2 years ago

      @zcd @RandAlThor

      BBQs for everyone!

  •  Fapper_McFapper   ( @Fapper_McFapper@lemmynsfw.com ) 
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    2 years ago

    At least now there is a study that corroborates what we’ve been saying for decades. So, we’ve got that going for us. Right?

  •  Truck_kun   ( @Truck_kun@beehaw.org ) 
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    deleted by creator

  •  MapleEngineer   ( @MapleEngineer@lemmy.ca ) 
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    2 years ago

    Rich people: Give us all the money and we’ll let you have a little.

    Liberal voters: Fuck off!

    Conservative voters: Ok!

    Liberal voters: We told you so.

    Conservative voters: Any day now…

  •  Thann   ( @Thann@lemmy.ml ) 
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    2 years ago

    well lets try another 50 just to be sure

  •  zephyreks   ( @zephyreks@lemmy.ca ) 
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    2 years ago

    No way!

  •  CanadaPlus   ( @CanadaPlus@lemmy.sdf.org ) 
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    2 years ago

    What really???1??!

    Good to have hard numbers, I guess.

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