I wasn’t an especially savvy kid in the 80’s, but I remember thinking how laughable this was, even when it was proposed back then.
So like…yeah. No shit it didn’t.
this post was submitted on 30 Aug 2023
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Just came to upvote/ make this comment.
Its important to note the failures of economic conservatism, or whatever bullshit you want to call it.
The Republicans are eventually going to have to pivot off of Trump and MAGA. This is what they'll return to. We need to make it culturally unpalatable to do so.
I agree with you. So many times in the last decades democratic presidents have started their period with the economy in a downswing after the last republican president. They get the economy in order just in time for the next republican president to step in, take the credit and mess things up again.
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“We’ve had record profits this quarter, we should pay our employees more!”
… Said no CEO ever.
During Covid my old job said they would be pausing all raises and cutting some costs to weather the storm. A couple months later they called a company wide meeting to announce record profits and that they would be providing a 20% raise . . . to the executives only. Then they got genuinely pissed when none one applauded them.
At our quarterly meeting, our company president always lets us know how much money the company is making, reminding us all of exactly how little we're being paid in comparison. And I think he believes it's morale-boosting.
We've done surveys, and people don't really like to get more money for their work. They much prefer the sense of pride and accomplishment when our company makes record profits!
The stupidity of that really baffles me. How can you be so low on empathy and understanding that you don't get that this would be the reaction?
I mean, I understand, even if I don't like, the drive some people have to greedily gobble up every dime they can get their grubby hands on. But I can't understand how they could have thought that the people adversely affected by it would applaud it. It's not like I expect cows to give me a high five when I eat a burger...
That's literally what a bonus is. My girlfriend has a bonus every year. That is, except for the year when her bank had to pay fees for a violation, they didn't pay a bonus then since bonuses are coming out of the profits
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. :/
...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.
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St. Ronnie did a crazy amount of damage to our country.
I would argue he's our worst president ever. Andrew Jackson, etc. etc. Absolutely shitty, but those guys were flying blind without history to learn from, and their atrocities were sadly socially acceptable at the time. Reagan destroyed everything right this country had done, and enabled the future monsters to come. He brought religion to the front of American politics, destroyed the regulations that protected us, brought unfathomable debt, the war on drugs, the list goes on.
The Orange Shit Stain is probably a worse person, but he arrived on Reagan's back.
Makes Trump seem almost OK in comparison.... Almost. It's crazy to me that I can make the argument that he's only the third worst Republican president of my lifetime.
I want to argue that W's damage was more immediate, but I keep finding arguments against that.
W might the the president most to blame for climate change. When Dems win it tends to be with a 50% + 1 majority, or close enough to it, while including senators from places like West fucking Virginia.
Republicans at any time can do bipartisan things about climate. Dems don't have that power.
I'd say any time between 1990 and 2010 was the time where there should have absolutely been enough consensus, and close enough to last minute to actually do something. Shut down all the coal plants in the West. Embargo countries that don't cooperate on climate. That could have been done. (And yeah, we could have absolutely shut down every coal plant in the West if we were willing.)
Then I was going to add another caveat about reading the 9/11 report. I don't fully blame W for that. It's a thing that would have been possible for any president to miss. But he's the one who missed it. I don't fully absolve him of it, either.
W's intentions behind the Iraq war may have been for the good of us all, but the results absolutely weren't.
The war in Afghanistan can be shared mostly between Obama and Trump. We were there for 20 years and couldn't manage to make a safe haven. Could have built fucking walls around Kabul, built up the government only there, and let them work on expanding that control outward for the next 50 years.
I still believe Trump's damage will be longer term. I don't know if he'll be able to outdo W, and he'll never reach Reagan levels of damage. But I don't think we've seen most of Trump's damage yet.
Trumps damage was mostly to the institutions. The GOP has spent decades slowly inching up to fascism and staging elaborate multilayered plans to steal power and undermine human rights. Then along comes Trump and just brazenly does all the shit the GOP had been tipoeing around and trying to be sneaky with and everyone just kind of stared in shock... and then nothing happened. There was a lot of hand wringing and shaking of fingers and Democrats at least tried a little bit to push back but Trump exposed the fact that if both parties aren't behind it there's nothing that can really be done to stop someone just straight up seizing power.
Now the GOP has realized they didn't need to tiptoe around all their fascist dreams all these years, and with them finally locking down the supreme court there's literally nothing outside the military or national guard stepping in that can stop them. We're really just banking on not all the GOP being willing to go 100% traitor at this point because if they do we're fucked.
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Let's capture another 50 yrs worth to data, just to be sure.
Taking from the poor to give to the rich has only given us the guillotine.
No billionaire has ever helped me or benefited society.
They don't even help when they die. Their wealth is mostly just distributed to their families.
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Did any of us really need an “economics study” to reach this conclusion? Now how do we fix it? Eat the rich?
I honestly believe it'll take physical violence to get back what's been taken.
I wish it didn't but historically and logically speaking, there's no other way. The unethical stone cold people rise to the top, and the few who are powerful yet maintain their morals are not nearly powerful enough to fight the rest. Critical change has always come about with revolutions, either violent or technological. And I don't think technology can improve anything for us at this point, if anything it will make things harder.
Yea, I sure as hell would rather find balance at the hands of peace but has that ever happened? Has a collective known to hoard resources ever in history amicably decided to give back what they took? Nothing I've ever read* indicates yes. Once your rent goes up it's never going back down. Humans are, imho, innately evil - as in the tendency to cause harm to others for personal gain and fulfillment is a basic human/animal* drive. The hoarding population ain't giving shit back. We're gonna have to take it back. Shoulda never been so fucking gullible to begin with.
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That's the cool part--power and money manipulates the game itself through regulatory capture, tending to resist attempts to fix it.
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Fifty years ago, they already knew this
We were not primitive and stupid 50 years ago. These assholes knew they were contributing to global warming as much as they knew trickle down economics wasn’t going to work.
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This is not news. But wealthy people basically create laws by lobbying and they sure don't like laws and regulations that take their money.
Why is a three year old article being posted in the news community? This is not news. This is just rage bait.
An infuriating part of it is that IMF, money lovers that they are, published research on this at least ten years ago.
But you can teach someone something that their job depends on them not knowing.
Trickle down economics was never something an intelligent lifeform needed disproving. It's so transparently false that it's practically synonymous with "you're a moron rube and I plan to profit from that fact"
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they didn't get rich by allowing money to slip out of their fingers.. you have to take it from them..
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For anyone who thinks that is surprising: I have a bridge to sell you.
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You can't get a trickle down, unless you squeeze from the top.
100 years of inflation has destroyed the purchasing power of the poor and middle class. If your mam and pop does not grow 2% a year its a shrinking business and eventually there is nothing left. Big corps seem to make it work by bending the rules. But the little guy gets screwed. The rich tax rate is like the murmur show to distract us from losing everything of value.
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So we stop doing that, right? Right?
Something trickled down but it tastes like piss
Why does anyone still believe this to be the case? Studies have been proving this since the early 90s.
Common sense proved it from moment 0
Next, study whether water is wet or dry.
I'm willing to bet that not one single wealthy person benefiting from these tax cuts thought: "Hey cool I'll pass the money I saved from these tax cuts down to the less fortunate"
I was not very old when Ray-gun was in office and I didn't believe this "trickly damn" bullshit back when they were first slinging it.
Why are we still even talking about it?
Money trickled up, not down. We must move some back down via taxes to have a strong middle class
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Or here's a better title:
Rich trick everyone into believing that making them not pay taxes will somehow make the working class richer.
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