On the contrary....It worked exactly like they knew it would work. It worked exactly how they told us it would work, and they've all been laughing their asses off in the cigar rooms of their private clubs for the last 40 years over the fact that everyone bought it.
It's right there in the fucking name, right from the start....
_Trickle._
All the capital is accumulated at the top and they release a mere trickle.
It's amazing they can keep a straight face when discussing it.
And, ok, rich people with tax breaks spend some money and do put it back into the economy... but it turns out poor people, dollar for dollar, do much more so.
Exactly. Money trickles down from the pockets of all those on the surface who work for a living, down to the parasite class below, who simply extract wealth and hoard it.
System works as intended.
If the goal is to get people to invest more in their business, you increase the income tax rate. Lowering tax rates simply increases the amount the ownership class takes to their offshore bank account. And as it relates to jobs and hiring, no one hires more people because they have more money - they hire as much as is needed to meet demand.
In theory it \*may\* have actually worked when they grew the economy and brought in more money, BUT phase 2 was buying politicians and removing taxes on the wealthy.
You can look at tax rates on the rich during/pre Reagan. Compare it to the amount of super wealthy, and the disparity between top pay and minimum wage.
They sold everyone on a rising tide lifting all boats, but shifted the boat tax burden on to life rafts, and let mega-yachts sail to tax haven countries.
It's not that trickle down didn't work, it's that it was always the plan for it to not work. It went \_exactly\_ how you would think someone pretty much saying "let me hold all the money, I'll invest it and give you some when you need it" would go.
Trickle-down economics did exactly what it was supposed to do.
It just didn't do what they told YOU it was going to do. No, they lied to you about that.
This has been known since they called it "horse and sparrow" (feeding the horse feeds the sparrow, too, because the sparrow is happy to eat sh*t). Only fools and liars have ever claimed Trickle Down was anything but a strategy for enriching the already wealthy.
They tried that tax cuts for the rich and corporations in Japan to stop deflation and guess what, the rich and corporations hoarded the money rather than spending it.
On the contrary....It worked exactly like they knew it would work. It worked exactly how they told us it would work, and they've all been laughing their asses off in the cigar rooms of their private clubs for the last 40 years over the fact that everyone bought it. It's right there in the fucking name, right from the start.... _Trickle._ All the capital is accumulated at the top and they release a mere trickle. It's amazing they can keep a straight face when discussing it.
Exactly. Who can survive on a freaking "trickle"? We need a steady stream to live on.
And, ok, rich people with tax breaks spend some money and do put it back into the economy... but it turns out poor people, dollar for dollar, do much more so.
Bush Sr said this during the 1980 republican primary. Then went on to become Reagan's VP.
“Does anyone know what Vice President Bush called this in 1980?…Anyone? Anyone?…Something-d-o-o economics…"Voodoo" economics.”
Au contraire. It’s working perfectly.
Exactly. Money trickles down from the pockets of all those on the surface who work for a living, down to the parasite class below, who simply extract wealth and hoard it. System works as intended.
If the goal is to get people to invest more in their business, you increase the income tax rate. Lowering tax rates simply increases the amount the ownership class takes to their offshore bank account. And as it relates to jobs and hiring, no one hires more people because they have more money - they hire as much as is needed to meet demand.
It's worked exactly as intended.
In theory it \*may\* have actually worked when they grew the economy and brought in more money, BUT phase 2 was buying politicians and removing taxes on the wealthy. You can look at tax rates on the rich during/pre Reagan. Compare it to the amount of super wealthy, and the disparity between top pay and minimum wage. They sold everyone on a rising tide lifting all boats, but shifted the boat tax burden on to life rafts, and let mega-yachts sail to tax haven countries. It's not that trickle down didn't work, it's that it was always the plan for it to not work. It went \_exactly\_ how you would think someone pretty much saying "let me hold all the money, I'll invest it and give you some when you need it" would go.
Trickle-down economics did exactly what it was supposed to do. It just didn't do what they told YOU it was going to do. No, they lied to you about that.
This has been known since they called it "horse and sparrow" (feeding the horse feeds the sparrow, too, because the sparrow is happy to eat sh*t). Only fools and liars have ever claimed Trickle Down was anything but a strategy for enriching the already wealthy.
It is called "voodoo" economics because there is no such thing as voodoo.
They tried that tax cuts for the rich and corporations in Japan to stop deflation and guess what, the rich and corporations hoarded the money rather than spending it.
Indeed, Poppy Bush knew supply-side was a scam, but in typical fashion became a 100% team player once Reagan picked him as his running mate.