50 years of tax cuts for the rich failed to trickle down, economics study says
Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.
The new paper, by David Hope of the London School of Economics and Julian Limberg of King's College London, examines 18 developed countries — from Australia to the United States — over a 50-year period from 1965 to 2015. The study compared countries that passed tax cuts in a specific year, such as the U.S. in 1982 when President Ronald Reagan slashed taxes on the wealthy, with those that didn't, and then examined their economic outcomes.
The point was always to decrease labor power.
And steal their wealth. So many pensions were stolen during the Reagan years.
Trickle down economics is a lie that's been sold to justify the extravagance of the bourgeoisie, that we should feel thankful for the scraps off their plates.
The belief of some people that we shouldn’t tax billionaires or hold them to account because one day you might be a billionaire is mind-bogglingly stupid and incredibly naive. It comes down to this these days: if you’re not already a billionaire, the odds of you becoming a billionaire are practically zero.
Read the other books in this series:
10 years of tax cuts for the rich failed to trickle down, economic study says.
20 years of tax cuts for the rich failed to trickle down, economic study says.
30 years of tax cuts for the rich failed to trickle down, economic study says.
40 years of tax cuts for the rich failed to trickle down, economic study says.
Looking forward to reading this one and see what's changed!
Also can't wait for the sequel at 60 years.
Keep voting for corrupt politicians, it's working!!!
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