Home » xyzzy » Dungeon » Modern Monetary Theory (or, how I stopped worrying about the natl debt.)
Re: Modern Monetary Theory [message #92880 is a reply to message #92409] Tue, 29 December 2020 11:22 Go to previous messageGo to previous message
Rusty is currently offline  Rusty
Messages: 1188
Registered: May 2018
Location: Kansas City Missouri
Illuminati (3rd Degree)
Stating the obvious. Trickle down economics, or supply side economics, or Reganomics just doesn't work, never did. For the majority of us. The famous Regan tax abatements were equally followed by government spending increases, whereby the recession of the early 80's were dug out of. Tax cuts for the rich do not gin up the economy. It merely promotes better investment opportunities for the upper classes. Most of the Trump corporate tax breaks were used to buy up their own stock, increasing their "winnings".
A new study has been published following 18 countries over 50 years proving yet again the obnoxiously obvious persistent fact that will still not penetrate the mind set of our elected elite. They won't bite the hand that feeds it.

https://www.businessinsider.com/tax-cuts-rich-trickle-down-income-inequality-study-2020-12
 
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