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please show where trickle down economics ever worked, anywhere.

by mbfg 4y ago

prepend 4y ago
I mean the US economy in the 20th century seems like a pretty good example, right? It “worked” by having the wealthiest realize most gains but also making the US the most powerful economy in the world and still has a large sized middle class with houses, pensions, 401ks, etc.
- lovich 4y ago
  Funny, I seem to remember a certain president running on trickle down economics that coincided with the decline of worker compensation compared to executive and the shrinking of the middle class, but maybe I have history completely backwards Edit:also look at the economic system practiced in the United States that led up to the introduction of trickle down economics. That happened in the 80’s and there’s 4/5ths of the 20th century that happened prior to that
- NotSammyHagar 4y ago
  It's disingenuous to claim claim that trickle down economics worked when the widespread middle class in the 1950s was buoyed by more government spending, much much higher union membership and high taxes on rich people. The US did have widespread beneficial economic growth after the rest of the world was town down in ww2 and we weren't, but that has ended over time as Reagan and others started claiming trickle down was the way to go. We reduced taxes on the top, theoretically making it easier for rich to spend and induce jobs for the others, but the impact of 1970s to now is worse opportunities. In summary the time that trickle down econ. was supposed to help was the time where the non-rich started to lose their share more and more.
- mbfg 4y ago
  The rich have done astoundingly well yes. The middle class has gone steadily down hill from the 80s.
deltree7 4y ago
An iPhone user in rural India surfing the open internet on $1 / month LTE mobile networks is absolutely an example of Trickle down economics working. Every single of the thousands of innovation that goes into an iPhone was subsidized by rich venture capitalists and rich early adopters who were willing to plonk large sums of money to a 'gadget' that only showed promises of work. It wasn't because the Indian Government Taxed the Rich and made a mandate that everyone should have an device-in-their-pocket-that-carries-all-the-worlds-information-and-productivity-tools
- lovich 4y ago
  Were trickle down economic principles followed by American politicians to benefit rural Indians? I don’t think finding a silver lining in the end results of a process counts as it succeeding.
- JaimeThompson 4y ago
  >Every single of the thousands of innovation that goes into an iPhone was subsidized by rich venture capitalists and rich early adopters Don't forget the governments which helped fund the basic research used to make such things, the middle and lower classes that pay more in property taxes so companies can be bribed to build factories, and other such things. Put another way it's a much more complicated picture than just those two.
  - nemo44x 4y ago
    Wealthy people pay almost all the taxes. the top 10% pay 71% of taxes and the top 25% pay 87%. 75% of the country contributes nearly nothing but complaints.
    - baal80spam 4y ago
      > top 25% pay 87% Wow, this is pretty eye-opening.
      - JaimeThompson 4y ago

please show where trickle down economics ever worked, anywhere.

by mbfg 4y ago

please show where trickle down economics ever worked, anywhere.

I mean the US economy in the 20th century seems like a pretty good example, right? It “worked” by having the wealthiest realize most gains but also making the US the most powerful economy in the world and still has a large sized middle class with houses, pensions, 401ks, etc.

lovich 4y ago
Funny, I seem to remember a certain president running on trickle down economics that coincided with the decline of worker compensation compared to executive and the shrinking of the middle class, but maybe I have history completely backwards Edit:also look at the economic system practiced in the United States that led up to the introduction of trickle down economics. That happened in the 80’s and there’s 4/5ths of the 20th century that happened prior to that
NotSammyHagar 4y ago
It's disingenuous to claim claim that trickle down economics worked when the widespread middle class in the 1950s was buoyed by more government spending, much much higher union membership and high taxes on rich people. The US did have widespread beneficial economic growth after the rest of the world was town down in ww2 and we weren't, but that has ended over time as Reagan and others started claiming trickle down was the way to go. We reduced taxes on the top, theoretically making it easier for rich to spend and induce jobs for the others, but the impact of 1970s to now is worse opportunities. In summary the time that trickle down econ. was supposed to help was the time where the non-rich started to lose their share more and more.
mbfg 4y ago
The rich have done astoundingly well yes. The middle class has gone steadily down hill from the 80s.

deltree7 4y ago

An iPhone user in rural India surfing the open internet on $1 / month LTE mobile networks is absolutely an example of Trickle down economics working. Every single of the thousands of innovation that goes into an iPhone was subsidized by rich venture capitalists and rich early adopters who were willing to plonk large sums of money to a 'gadget' that only showed promises of work. It wasn't because the Indian Government Taxed the Rich and made a mandate that everyone should have an device-in-their-pocket-that-carries-all-the-worlds-information-and-productivity-tools

lovich 4y ago
Were trickle down economic principles followed by American politicians to benefit rural Indians? I don’t think finding a silver lining in the end results of a process counts as it succeeding.
JaimeThompson 4y ago
>Every single of the thousands of innovation that goes into an iPhone was subsidized by rich venture capitalists and rich early adopters Don't forget the governments which helped fund the basic research used to make such things, the middle and lower classes that pay more in property taxes so companies can be bribed to build factories, and other such things. Put another way it's a much more complicated picture than just those two.
- nemo44x 4y ago
  Wealthy people pay almost all the taxes. the top 10% pay 71% of taxes and the top 25% pay 87%. 75% of the country contributes nearly nothing but complaints.
  - baal80spam 4y ago
    > top 25% pay 87% Wow, this is pretty eye-opening.
    - JaimeThompson 4y ago