Two new reports published Tuesday by the Roosevelt Institute argue that robust corporate taxation is key to creating a strong economy and improving the well-being of families and children—objectives that have been undermined in the decades since the Reagan era by regressive tax cuts enacted on the false premise that benefits would "trickle down" to the rest of society.
  • AndrasKrigare@beehaw.org
    21·
    10 months ago

    Weekly reminder that “trickle down economics” was always meant as a criticism. Coined by Will Rogers

    This election was lost four and six years ago, not this year. They [Republicans] didn’t start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickles down. Put it uphill and let it go and it will reach the driest little spot. But he didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow’s hands. They saved the big banks, but the little ones went up the flue.

    https://en.m.wikipedia.org/wiki/Trickle-down_economics#:~:text=Trickle-down economics is a,critics of supply-side economics.

    • CaractacusPottsOP
      12·
      10 months ago

      Economist John Kenneth Galbraith most vividly described it as the “horse and sparrow” theory: “If you feed the horse enough oats, some will pass through to the road for the sparrows.”