There had to be a study?
I have two words: Fuck Reagan.
Reagan, both Bush’s, Clinton, Obama, Trump, and even to some extent Carter. It’s been a long dirty project. President Biden is the first to even start the project of reversing the wealth transfer, though it’s worth mentioning that Senator Biden was as bad as any president on this score.
Indeed, Ronnie was and still is a big POS in my book. The USA should bring the tax brackets from the 1960’s back.
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https://www.cbsnews.com/news/tax-cuts-rich-50-years-no-trickle-down/
Every couple years, another study that shows the same thing. The rich got richer and the middle class and poor lost.
Middle class is the new poor
The middle class also doesn’t exist and makes as much sense as trickle-down economics does. It’s either working class or rich.
The middle class definitely exists. They still share class solidarity with the poor.
Middle class means you can lose your job, stay unemployed for a year or 2, and keep your home, keep the kids fed. You’re closer to the poor obviously, but you have some peace of mind. You’ve probably got some investments to provide a little bit of extra income to help you through the difficult days.
Basically, I’d categorize rich vs middle class vs working class as “could never become homeless”, “unlikely to need to worry about becoming homeless unless something major happens” and “could easily become homeless if unemployed for a while”.
Of course, if anyone’s wealth is actually trickling down, it’s the middle class, not the rich. Because the middle class actually spends some portion of their money instead of hoarding it.
No, it really doesn’t exist. It’s an idea created by the rich to make some among the working class believe that they are different from the other working class people. But they are not. If you need to work to survive, you are working class.
And please, don’t insult your intelligence or mine talking about trickle-down economy. That’s also not a real thing
Middle class means being able to work your way up to not having to rely on work or pension to live.
If you’re working class, you don’t even have that option. You work until you’re so old you have to retire, no long sabbaticals in between or anything. You won’t go traveling the world to do soul searching. Your kids are either taking student loans or GI bills or just not going to college.
Middle class isn’t a 100k income in much of modern America though. Depending on location I’d say it’s more like 200k to 600k per household at minimum to be middle class. So yes, the middle class has shrunk considerably.
That’s not what the middle class is. I’m not about to repeat myself. And the more you write on it, the more it’s clear that you don’t understand what you are talking about and never read anything on the matter but instead you’re just writing about your personal opinions on the matter. Please stop spewing the insane propaganda of “the harder you work, the richer you’ll be” and stop wasting my time
They spent those 50 years convincing half the voting population that evidence doesn’t matter, unfortunately.
Good old degradation of public school standards.
Combined with 24 hour propaganda on “news” nwtworks
Public school funding can’t be used to fuel the military industrial complex.
Not without a little imagination.
This one’s going places!
Is this going to be like UBI studies, where the news pretends every one of hundreds of studies is the one that is breaking this news for the first time? My economics professor was taking the piss out of supply side economics over a decade ago.
Endorsement of trickle-down is usually made for the same reason as criticisms of UBI… Conservative voters are ignorant of the concept of elasticity in economics, and their politicians know it.
Not to mention that economics education is even worse than civics education. At best someone who went to college might have gotten a 100 level microeconomics course as part of their degree. But I don’t know of any school that teaches about money beyond maybe how to set a budget. If you’re lucky.
When normal people talk about “the economy” it’s largely based on their own bank account and how they feel other people are doing in comparison to some subjective standard, not anything to do with actual economics. This is why we keep having to raise the debt ceiling and politicians talk about it like it’s getting another credit card.
No. It doesn’t seem to me that the article pretends this one study is breaking any news for the first time. It cites other studies and individuals that have expressed the same idea for a long time. Possibly this is the first rigorous study of the 50 years from 1965 to 2015, I dunno.
Some people are either unaware or like being trickled upon. Somehow there still seems to be widespread support for tax cuts to the wealthy. Somehow people seem to remember “tax cut” while either being unaware or not remembering whose taxes were cut. Somehow they already forgot when Warren Buffet made a big deal of his tax rate being lower than his secretary’s and that we should fix that. As recently as this summer I found someone surprised that the Trump tax “cuts” increased my taxes
“Trickle-Upon Economics” really does capture the vibe and the reality of the experience.
The goldfish memory of news organizations doesn’t help. If they reported this accurately it would be, “Another Study Confirms Trickle Down Doesn’t Work”
I remember Ross Perot talking about the lack of trickle-down back in the 90s, but he was old, had funny big ears, showed a lot of confusing charts and was a billionaire, so why listen to him.
We need to stop shaming people for believing in religion and start shaming them for believing in trickle down.
It_s_the_same_picture.jpg
I mean it’s basically the same thing at this point.
We know, we know.
People should be always taxed more depending on how much more they make starting at 500,000$ a year for a single person imo. Once you hit that threshold you’re far above a normal human…far above.
If wages/salary are your primary/only source of income, you are not part of the wealthy class, even if it is $500k. Not even close.
Yeah, the problem being that they get compensated in shares, etc, above that point, meaning they dodge all the income tax anyway.
I will never get why it is the most well off of us that they give the tax cuts too. I mean, other than bribery of course. Even if it did work, how long were they supposed to wait? “I know little Timmy needs braces, and you can’t afford to feed them them, but just wait a little longer! Musk is almost done with dicking around with the election. I’m sure it’ll trickle down then!”
Economists have written the same article for years.
This is like that Onion school shooting article that just changes the location except they count how many years it’s been since Reagan
Well, not the same article. They have to find/replace the name every couple years. Horse and sparrow, supply side, trickle down, …
I like horse and sparrow. It openly admits it’s horseshit.
How about now?
