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50 years of tax cuts for the rich failed to trickle down, economics study says - CBS News (www.cbsnews.com)

submitted 10 months ago by RandAlThor@lemmy.ca to c/finance@beehaw.org

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[-] EherVielleicht@feddit.de 38 points 10 months ago

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[-] LordJer@beehaw.org 21 points 10 months ago

In other news the sky is blue and water is in fact wet.

[-] agressivelyPassive@feddit.de 10 points 10 months ago

No, water is only wet, because of government regulation!

If it weren't for all the taxes and regulations, the economy could unleash water's true power!

[-] Aussiemandeus@aussie.zone 6 points 10 months ago

I don't think water is wet, we get wet from water.

Water in the air doesn't make us wet

[-] delmain@beehaw.org 5 points 10 months ago

Enough water in the atmosphere makes us wet.

See: humidity

[-] frog@beehaw.org 17 points 10 months ago

I'd love to see a study into what happens in countries that raise taxes on the rich. Do they all leave, as they constantly threaten to if taxes are raised? Do they find ways to dodge it? Or do they just pay it and life carries on?

[-] Overzeetop@beehaw.org 2 points 10 months ago

countries that raise taxes on the rich

That's Europe, right? The countries with universal healthcare, reasonably maintained infrastructure, and generally high standards of living? I don't know, I don't think it would work in the US. Too much Freedom™ here to overcome.

[-] frog@beehaw.org 1 points 10 months ago

Even a lot of European countries don't tax the wealthy as much as they could/should! The public services and infrastructure tend to be funded by a higher tax burden on the lower and middle classes, combined with borrowing (for example, France). And the UK is absolutely terrified that all the rich people would leave if they had to pay their fair share. Given their rentier capitalism contributes virtually nothing to productivity or public services, I think we should call their bluff.

[-] dax@beehaw.org 12 points 10 months ago

I donno man, seems like a lot of rich people piss is all over us

[-] Lorindol@sopuli.xyz 7 points 10 months ago

What a surprising discovery.

[-] ArtZuron@beehaw.org 4 points 10 months ago

Considering lots of folks knew it wasn't going to work even as he was pushing for it, it's not a surprise. We've known this for decades

[-] DeForrest_McCoy@beehaw.org 3 points 10 months ago* (last edited 10 months ago)

Reagan would have pretended in public to hate Trump, but as long as he didnt think anyone was looking they'd probably admire each others perverted dismantling of the USA.