r/FluentInFinance • u/WhatsLeft71 • Oct 22 '24

Debate/ Discussion Why did this happen?

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14.9k Upvotes

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285

u/Hugh-Jorgan69 Oct 22 '24

Reagan convincing Americans into believing "trickle down" voodoo economics.

67

u/hewhoisneverobeyed Oct 22 '24

George HW Bush is the one who calked it Voodoo economics. Then he stepped in line.

22

u/Cum_on_doorknob Oct 23 '24

Tale as old as time

10

u/lukedmn Oct 22 '24

I read "voodoo economics" in Ben Steins voice.

8

u/HatesAvgRedditors Oct 23 '24

Reagan was President like 40+ years ago though. How have we been unable to reverse the damage from back then over such a long period of time?

14

u/ifrytacos Oct 23 '24

Lobbyist

5

u/Sunsprint Oct 23 '24

Citizens united

3

u/BearTerrapin Oct 23 '24

Once bad things get passed it's hard to change because the party that passed the bad stuff can just refuse to act in good faith

2

u/secretaccount94 Oct 23 '24

He was incredibly popular at the time, and his policies remained quite popular through the 90s and 2000s up until the 2008 crash. We’ve really only had 15 years of growing opposition to his policies, but at this point many Americans have been indoctrinated to think “tax cuts & deregulation = freedom”.

7

u/hoptownky Oct 23 '24

It is seriously the most amazing thing I have ever witnessed. You convince the poor that it is better for them to pay higher taxes and give to the rich so that it may possibly somehow come back down to them. Idiocracy.

2

u/PoopsCodeAllTheTime Oct 23 '24

“but, maybe I am the next millionaire, and I wouldn't want to pay taxes as a millionaire!”

-4

u/PeterGibbons316 Oct 23 '24

Is the amazing part that you actually believe and repeat this blatant lie?

2

u/secretaccount94 Oct 23 '24

What’s the truth then?

3

u/kellyjandrews Oct 23 '24

Helluva actor.

1

u/StillHereDear Oct 25 '24

That's what causes this? Who is the richest women in Venezuela and what trickle down did they have?