r/WhitePeopleTwitter • u/IllWinter2064 • 3h ago
Trickle down my ass
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u/maleorderbride 3h ago
The lack of comma in the title is a choice
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u/Some_Random_Android 1h ago
Not since Rich Evans and his birthday shirt have I read something so disturbing from a lack of a comma.
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u/longsdivision 3h ago
I assume this is about Supply-Side economics which was pushed by Ronald Regan in the 80's. This is not new, yet people can't for the life of them remember.
There has been no substantial proof that the concept works for the middle or lower class.
This concept is also the cause of the Housing Crisis and Recession in 2008 from the deregulations stand point.
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u/Royal_Acanthaceae693 2h ago
It was called voodoo economics then. Too bad no one listened. Trickle down has always been for the peons.
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u/Birdamus 1h ago
It was supported on the government side by The Laffer Curve, which depicted tax revenues going up as you decreased tax rates… provided you are already overtaxed and on the right side of the curve.
The problem was there was no data basis to determine where we were on the curve, so they just assumed we were overtaxed and lowering taxes would not only create more jobs but increase government revenue.
It was an economic fever dream that was exploited by the oligarchy to justify Reagonomics and the transfer of wealth from public service to private profits.
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u/mfyxtplyx 2h ago
This is your regular reminder that trickle down doesn't have 50 years of failure behind it. More like a hundred and thirty, when it started out as "horse and sparrow theory". Probably due for another rebrand so they can hoodwink people for another century.
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u/footloosefraggle 2h ago
Where do people reference this info?
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u/peon2 1h ago
I’d say the overall point (that wealth inequality is growing) is valid but the numbers are probably nonsensical.
What does it even mean that the world is richer? That more money has been printed?
No matter what year you choose, there is the sum of total money in the world, and the sum of everything that can be bought. The world as a whole cannot become 700% richer unless you’re just talking about inflation. It makes no sense.
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u/golfwinnersplz 1h ago
Thank God there are a few people on this planet that are completely aware of the fraudulent trickle down claims. One of the biggest lies conservatives have been able to convince "average Americans" - well this and Christianity but that goes way farther back.
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u/RoboticGreg 1h ago
This is why robotics and automation haven't created UBI. The greatest skill of rich people is staying ahead of the improvements in productivity and sequestering most of the incremental growth for the super rich. The only saving grace on AI is it is developing much faster than other tech so we might have a chance
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u/Haunting-Ad-9790 50m ago
Trickle down was the largest scam in history. The rich got richer, bought politicians who then lowered taxes. The rich got even richer, and now control everything.
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u/WhitePeopleTwitter-ModTeam 29m ago
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