In case it wasn't clear to everyone yet, "trickle down" economics doesn't work.
In case it wasn't clear to everyone yet, "trickle down" economics doesn't work. Numerous private studies have expressed this sentiment as well as public ones. All "trickle down" achieves is helping wealthy people stay wealthy. And yet, the #GOP still preaches "voodoo" economics as the cure to the economy. Kind of like when experts nearly unanimously claim global warming is real and the #Republicans say the otherwise. Their heads are in the sand when it comes to reality.
Originally shared by Marla Caldwell
Reaganomics aka voodoo economics (G.H.W. Bush) aka "trickle down economics" has been debunked by the Congressional Research Service, and Republicans had the report buried, allegedly for using language like "taxes on the rich".
“The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”
What do you do when the Congressional Research Service, the completely non-partisan arm of the Library of Congress that has been advising Congress—and only Congress—on matters of policy and law for nearly a century, produces a research study that finds absolutely no correlation between the top tax rates and economic growth, thereby destroying a key tenet of conservative economic theory?
If you are a Republican member of the United States Senate, you do everything in your power to suppress that report—particularly when it comes less than two months before a national election where your candidate is selling this very economic theory as the basis for his candidacy.
http://www.forbes.com/sites/rickungar/2012/11/02/non-partisan-congressional-tax-report-debunks-core-conservative-economic-theory-gop-suppresses-study/#61509e91431b
http://www.forbes.com/sites/rickungar/2012/11/02/non-partisan-congressional-tax-report-debunks-core-conservative-economic-theory-gop-suppresses-study/#61509e91431b
Originally shared by Marla Caldwell
Reaganomics aka voodoo economics (G.H.W. Bush) aka "trickle down economics" has been debunked by the Congressional Research Service, and Republicans had the report buried, allegedly for using language like "taxes on the rich".
“The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”
What do you do when the Congressional Research Service, the completely non-partisan arm of the Library of Congress that has been advising Congress—and only Congress—on matters of policy and law for nearly a century, produces a research study that finds absolutely no correlation between the top tax rates and economic growth, thereby destroying a key tenet of conservative economic theory?
If you are a Republican member of the United States Senate, you do everything in your power to suppress that report—particularly when it comes less than two months before a national election where your candidate is selling this very economic theory as the basis for his candidacy.
http://www.forbes.com/sites/rickungar/2012/11/02/non-partisan-congressional-tax-report-debunks-core-conservative-economic-theory-gop-suppresses-study/#61509e91431b
http://www.forbes.com/sites/rickungar/2012/11/02/non-partisan-congressional-tax-report-debunks-core-conservative-economic-theory-gop-suppresses-study/#61509e91431b
Comments
Trickle down on its own is just pandering.