Better fit for this thread...
There is a default misconception that if we tax the rich, the poor will automatically get more money/benefits. Which is nonsense. The world is full of Robin Hood wannabes.
Literally no one has ever said that Ed. Literally no one believes anything happens automatically ffs. This is a strawman bro. This is why we support Universal Health Care, Amendment to overturn Citizens United, raising minimum wage, strengthening regulations and never allowing the finance industry to sell the lie again that they are capable of self-regulating.
The default misconception is actually that trickle down economics is anything but debunked feel-good bullshit for greedy people. Voodoo economics.
Edgar if you really want top have an in-depth economics debate I am game. That goes for anyone out there that believes in the assumptions of neo-classical economics (Hayek, Friedman, Thomas Sowell types). Any one that believes neo-classical economics is welcome to tag me whenever.
I'm already getting mileage out
@Cheesy last article
"The US economy was never as strong, nor its middle class as secure, as during the three decades when the real minimum wage and the overtime threshold and public subsidies for higher education were at their peak. Medicare for All wouldn’t burden employers; it would relieve them of their costliest employee benefit. And if we do need to raise taxes on the wealthy in order to rebuild the middle class, so what?
There is simply no correlation between top tax rates and growth. "
Some of my
fellow filthy-rich capitalists would like you to believe the middle class has actually
benefited from having us gobbling up more and more of America’s annual income gains. After all, they claim, we “job creators” know best how to productively invest wealth: The more capital we get to control, the more economic growth we’ll be able to produce—and the benefits will trickle down!
Yeah, right. Contrary to popular wisdom, America hasn’t enjoyed drastically higher economic growth since 1980 than more egalitarian Western countries. And a moment’s glance at how the “job creators” are currently investing their windfall illustrates why: Right now, roughly 55 percent of corporate profits (about $1 trillion, or 5 percent GDP) is going into stock buybacks—the signal marker of corporate malfeasance and self-dealing—while an additional 37 percent goes to dividends. This means that 92 percent of the profits that American businesses make this year will be spent on enriching the small, elite fraction of the population that owns significant amounts of corporate stock. Meanwhile, at a time of so-called “full employment,” inflation-adjusted wages for the bottom 80 percent of American workers are actually
declining.
And don’t you dare think for a moment that you somehow know better than voters what’s good for them, because “Econ 101!” or something. Econ 101 is
bullshit—at least in the way that it’s been relentlessly misapplied to public policy these past 40 years. And as for trickle-down economics—“a rising tide lifts all boats” and all that—well, that’s a
demonstrable con: Tax cuts for the rich
don’t create growth (if they did, Trump’s $1.5 trillion tax giveaway wouldn’t have resulted in declining wages and record stock buybacks). A higher minimum wage
doesn’t kill jobs (if it did, the job market wouldn’t be booming in Seattle and San Francisco and New York and in every other city or state that has recently hiked its local wage floor). Deregulation
isn’t a magical potion of market efficiency (unless if, by “efficient,” you mean efficiently wiping out the savings of millions of working- and middle-class families through a predatory lending and derivative-fueled economic collapse)."
https://www.politico.com/magazine/s...reclaim-the-center-by-moving-hard-left-219354
Poor should be satisfied with the $1.50 per week gain tax break Paul Ryan threw their way.
oh FFS. This sounds as in-touch as Let Them Eat Cake.
Are you actually defending Trump and Bush's tax cuts to the rich as good for the economy? We can already see the lies of the people that sold the tax cuts.