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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 U
by 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 agoFunny, 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 agoIt'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 agoThe rich have done astoundingly well yes. The middle class has gone steadily down hill from the 80s.