File this one under: We Been Knew
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.
(cont.)
Trickle-down economics isn’t a theory that holds any water, not in the United States, not in any other developed nation.
So.
If whatever politician you’re voting for in whatever election mentions the economy and doesn’t point out that trickle-down economics isn’t a thing, you need to vote for a different politician because THAT one is not concerned with making the rich pay their fair share. And they’re probably being paid by the rich to uphold the status quo.
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