6 ms·

That's the myth of Trickle-down economics in action.

rester324 1y ago
The same thing happens in other countries too BTW. Prime example is Japan, where prime minister Abe promoted this nice lie for many long years
- Yeul 1y ago
  Curiously in the Netherlands poverty has gone down. But that's because the government has a pretty solid Robin Hood system going on: take from the rich give to the poor. The amount of wealth that is redistributed is frankly insane.
  - okwhateverdude 1y ago
    I'm generally in favor. My taxes provide an amazing experience here. I have never seen the abject poverty that I've seen in other places (such as the US) here in NL. Great infrastructure, labor laws, culture and arts, etc. I worry less about break-ins and theft. All-in-all, the least worst place to live, by far.
    - quantified 1y ago
      If we in the USA got our money's worth from taxes, we feel rich. But we truly don't.
      - magentaworker 1y ago
        You got it, that huge army is not free, that militarized police is not free, the CIA is not free, FBI, NSA, and all that huge security related organizations that nobody else in the world has except maybe Israel and not at the same scale.
        quantified 1y ago
        That too. We need our security organizations, there are lots of unpatriotic profiteers in there, we could get a lot more value for our moeny on those. (Littoral battleships? F-35s? Let's just get actual spent-uranium-tipped unicorns.) The way we do infrastructure and social services leaves a lot of room for improvement. I'd pay 50% tax gladly if I got half my income in value back.
        SauciestGNU 1y ago
        Hell looking at the state of international conflict today I can't even be that upset about defense spending on principle, it's just that what we spend on is stupid and immoral. Instead of domestic oppression and foreign genocide we could be helping Europe and Taiwan fend off threats from rival great powers.
  - exceptione 1y ago
    > The amount of wealth that is redistributed is frankly insane. I would change that to: the amount of income tax quickly reaches idiotic heights. Capital taxes are generally low, and income taxes are for the 95% losers. There is no plan to make the pie larger. The problem is the same as everywhere: a public brainwashed by neo-liberal nonsense voting against their own interests. Private gains and public losses.
deleted 1y ago
[deleted]
philipallstar 1y ago
It's a myth that people support something called trinkle-down economics.
refurb 1y ago
But it’s not. The error people make all the time is assuming these groups are static and always have the same people in them over time. They don’t. A great example were the people in the 0.1% percentile of income. Evil rich people! Turns out people who end up in that group, only do so for a single year in their entire life. Things like selling a company or getting a large windfall propels them into the 0.1%, then after that they fall back towards the median. Same with the lowest income group. People move in and out that group each year.
- mna_ 1y ago
  Someone who inherits a couple million from a dead relative is not in the same league as Bezos who is rich enough to buy entire countries. Bezos is not coming down to the median any time soon. There are different leagues to this game.
- amanaplanacanal 1y ago
  I suspect when people think of evil rich people, they are thinking if wealth, not annual income.
- rester324 1y ago
  Sorry but I don't understand your comment. Are you sure you are responding to the right message? The OP specifically called out trickle-down economics. Which is a myth, a false belief that somehow not taxing rich companies and not redistributing a country's wealth through taxes and other means, companies will do the right thing eventually, and they will raise the wages instead by their own incentives. Which they never do, and only raise wages as a very last resort. They do instead coordinated wage suppression, lobbying governments to take away labor rights from the labor force, outsource their operations, set up new offshore offices to escape paying taxes, etc So what does your comment to do with that? I think your message doesn't address any of that
  - refurb 1y ago
    That’s not what “trickle down economics” is. It’s basically the Laffer curve which argues that tax receipts can actually go down with higher taxes rates as tax’s can discourage growth if high enough. Thus if you lower taxes, economics growth increases (overall tax receipts go up, not down).

The same thing happens in other countries too BTW. Prime example is Japan, where prime minister Abe promoted this nice lie for many long years

Yeul 1y ago
Curiously in the Netherlands poverty has gone down. But that's because the government has a pretty solid Robin Hood system going on: take from the rich give to the poor. The amount of wealth that is redistributed is frankly insane.
- okwhateverdude 1y ago
  I'm generally in favor. My taxes provide an amazing experience here. I have never seen the abject poverty that I've seen in other places (such as the US) here in NL. Great infrastructure, labor laws, culture and arts, etc. I worry less about break-ins and theft. All-in-all, the least worst place to live, by far.
  - quantified 1y ago
    If we in the USA got our money's worth from taxes, we feel rich. But we truly don't.
    - magentaworker 1y ago
      You got it, that huge army is not free, that militarized police is not free, the CIA is not free, FBI, NSA, and all that huge security related organizations that nobody else in the world has except maybe Israel and not at the same scale.
      - quantified 1y ago
        That too. We need our security organizations, there are lots of unpatriotic profiteers in there, we could get a lot more value for our moeny on those. (Littoral battleships? F-35s? Let's just get actual spent-uranium-tipped unicorns.) The way we do infrastructure and social services leaves a lot of room for improvement. I'd pay 50% tax gladly if I got half my income in value back.
        SauciestGNU 1y ago
        Hell looking at the state of international conflict today I can't even be that upset about defense spending on principle, it's just that what we spend on is stupid and immoral. Instead of domestic oppression and foreign genocide we could be helping Europe and Taiwan fend off threats from rival great powers.
- exceptione 1y ago
  > The amount of wealth that is redistributed is frankly insane. I would change that to: the amount of income tax quickly reaches idiotic heights. Capital taxes are generally low, and income taxes are for the 95% losers. There is no plan to make the pie larger. The problem is the same as everywhere: a public brainwashed by neo-liberal nonsense voting against their own interests. Private gains and public losses.

deleted 1y ago

[deleted]

philipallstar 1y ago

It's a myth that people support something called trinkle-down economics.

refurb 1y ago

But it’s not. The error people make all the time is assuming these groups are static and always have the same people in them over time. They don’t. A great example were the people in the 0.1% percentile of income. Evil rich people! Turns out people who end up in that group, only do so for a single year in their entire life. Things like selling a company or getting a large windfall propels them into the 0.1%, then after that they fall back towards the median. Same with the lowest income group. People move in and out that group each year.

mna_ 1y ago
Someone who inherits a couple million from a dead relative is not in the same league as Bezos who is rich enough to buy entire countries. Bezos is not coming down to the median any time soon. There are different leagues to this game.
amanaplanacanal 1y ago
I suspect when people think of evil rich people, they are thinking if wealth, not annual income.
rester324 1y ago
Sorry but I don't understand your comment. Are you sure you are responding to the right message? The OP specifically called out trickle-down economics. Which is a myth, a false belief that somehow not taxing rich companies and not redistributing a country's wealth through taxes and other means, companies will do the right thing eventually, and they will raise the wages instead by their own incentives. Which they never do, and only raise wages as a very last resort. They do instead coordinated wage suppression, lobbying governments to take away labor rights from the labor force, outsource their operations, set up new offshore offices to escape paying taxes, etc So what does your comment to do with that? I think your message doesn't address any of that
- refurb 1y ago
  That’s not what “trickle down economics” is. It’s basically the Laffer curve which argues that tax receipts can actually go down with higher taxes rates as tax’s can discourage growth if high enough. Thus if you lower taxes, economics growth increases (overall tax receipts go up, not down).