According to a study by the London School of Economics, 50 years worth of tax cuts contributed absolutely nothing to boost the GDP and employment rates across 18 nations that tried trickle down economics since the wealthy hoard far more than they spend. https://www.cbsnews.com/news/tax-cuts-rich-50-years-no-trickle-down/
"Per capita [GDP] and unemployment rates were nearly identical after five years in countries that slashed taxes on the rich and in those that didn't. But the analysis discovered one major change: The incomes of the rich grew much faster in countries where tax rates were lowered."
I would pretend to be shocked, but supply side economics has always been a phenomenally simplistic idea drawn on a cocktail napkin by a crank very few actual economists took seriously, and whose career is basically a wingnut welfare participation trophy. https://rantt.com/trickle-down-economics-debunked
You can follow @GregAFish.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:

By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.