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Trickle down? It was called VOODOO fucking economics in its day. Plenty of analysts and other people with half a brain understood what a travesty it was and is. BUT too many people at the bottom of the food chain keep getting convinced that it works. :/
Conservatives would be insulted if they could read.
another name is horse and sparrow.
in other words they expect us to eat their shit.
I remember Gene Simmons from KISS being very vocal in interviews about the wonders of trickle down economics. I think that was the first time I heard about it, so I read up on it and realized the guy had no idea what he was talking about.
George HW Bush called it that in 1980. It was known as horse and sparrow originally as the horse ate the grain and the birds picked at its shit.
Wow, that old name actually makes a lot of sense. I wonder which marketing person helped Reagan with the new dumb ass name. It obviously worked but I don't get it. 1) trickling sounds gross 2) lol why would I ever EVER believe that if I let rich people keep all their money via incredibly unfair tax breaks, someday I'll magically get some of that money? It would sound dubious even if it came from someone I already personally knew and had trusted for decades 3) even if I believed it, why would I want the extra step of continually paying a higher tax rate than companies, hoping one day the theory pays off.
This sure was a doozy of a lie. How they ever convinced anyone of it is... very strange.
Because in 1983, the last and only time this worked, we cut taxes and as a result we took in more tax revenue as avoidance/evasion was more expensive. This is why some think the Laffer Curve has more validity than it should be ceded
And in one of the great ironies of US history, it was George Bush Sr. who first called it "voodoo economics".