Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it.
It is hard to overstate how damaging trickle-down economics has been for the American economy/society. It has eviscerated our tax code and empowered a class of oligarchs that dominate our political system. Making income inequality much worse; it’s not red team, blue team, but class warfare.
It has been objected that upon the abolition of private property, all work will cease, and universal laziness will overtake us.
According to this, bourgeois society ought long ago to have gone to the dogs through sheer idleness; for those of its members who work, acquire nothing, and those who acquire anything do not work.
I still recall an old strip where then-president Obama travels back to ‘Leave it to Beaver’ in 1960 to ‘destroy traditional America’. There the idea that a CEO would make 200 times more than their employees was unthinkable – Ward noting “My boss lives down the street” really hit me.
Those who are wealthy from their own means. not inherited wealth, know how to make money. It is what they do. They are very good at it. As FDR knew, if you tax the wealthy at higher rates, 60% and more all the way to 90%, the wealthy will just go out and make more money to cover it. That makes an economy vibrant, growing and good for everyone.
The Republicans in America want money to go to the rich rather than the middle class because they are beholden to them—the money to finance their campaigns comes from the rich. They tell the public that it will “trickle it down”, and everyone will benefit. Trickle down has never worked, as far as raising the standard of living, anywhere that it has been tried. And, it is completely illogical to believe that it ever could. If you are paying a guy to cut your lawn and he’s doing an adequate job, then you get a tax cut, do you raise his pay? Neither will the 1%ers. The only reason to spend more on hired help is that you need more workers to get the job done. The only way more workers will be needed is if there is an increased demand for product- in other words people are buying more stuff. The only reason people would be buying more stuff is that they can afford it. And, the only reason that more people can afford more is that they are the ones getting the tax cuts, not the rich guys. Trickle down just gives the rich guys more money to hide offshore, or more money to buy more politicians to write laws so they have more money to hide offshore. If you want that money to stay in America, increase production, and raise everyone’s standard of living, trickle UP will do the job, not trickle down.
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braindead Premium Member 3 days ago
All magats still believe in trickle down.
Always have.
dotbup 3 days ago
trickle down economics
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Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it.
It is hard to overstate how damaging trickle-down economics has been for the American economy/society. It has eviscerated our tax code and empowered a class of oligarchs that dominate our political system. Making income inequality much worse; it’s not red team, blue team, but class warfare.
Pickled Pete 3 days ago
Gonna be OK now!
The Donald is gonna fix America… REAL GOOD too!! – trust me!
DangerBunny 3 days ago
Wait a minute….. where’s Lucky Ducky’s “Gotcha”? Can it be that he’s not so lucky after all? Was it just a dream?
meetinthemiddle 3 days ago
Forget Pickety… Adam Smith in The Wealth of Nations (the capitalist bible) advocated for taxing the rich
gawaintheknight 3 days ago
It has been objected that upon the abolition of private property, all work will cease, and universal laziness will overtake us.
According to this, bourgeois society ought long ago to have gone to the dogs through sheer idleness; for those of its members who work, acquire nothing, and those who acquire anything do not work.
kenharkins 3 days ago
This pre-supposes no upward mobility. Forbes mag published a report that 60% of American millionaires were 1st generation wealthy.
Vince M 3 days ago
I still recall an old strip where then-president Obama travels back to ‘Leave it to Beaver’ in 1960 to ‘destroy traditional America’. There the idea that a CEO would make 200 times more than their employees was unthinkable – Ward noting “My boss lives down the street” really hit me.
ncorgbl 3 days ago
Those who are wealthy from their own means. not inherited wealth, know how to make money. It is what they do. They are very good at it. As FDR knew, if you tax the wealthy at higher rates, 60% and more all the way to 90%, the wealthy will just go out and make more money to cover it. That makes an economy vibrant, growing and good for everyone.
Space_cat 3 days ago
Eat the rich! They’re so weak and frail from not working, they’ll probably be like Veal!
Diane Lee Premium Member 3 days ago
The Republicans in America want money to go to the rich rather than the middle class because they are beholden to them—the money to finance their campaigns comes from the rich. They tell the public that it will “trickle it down”, and everyone will benefit. Trickle down has never worked, as far as raising the standard of living, anywhere that it has been tried. And, it is completely illogical to believe that it ever could. If you are paying a guy to cut your lawn and he’s doing an adequate job, then you get a tax cut, do you raise his pay? Neither will the 1%ers. The only reason to spend more on hired help is that you need more workers to get the job done. The only way more workers will be needed is if there is an increased demand for product- in other words people are buying more stuff. The only reason people would be buying more stuff is that they can afford it. And, the only reason that more people can afford more is that they are the ones getting the tax cuts, not the rich guys. Trickle down just gives the rich guys more money to hide offshore, or more money to buy more politicians to write laws so they have more money to hide offshore. If you want that money to stay in America, increase production, and raise everyone’s standard of living, trickle UP will do the job, not trickle down.
willie_mctell 2 days ago
R greater than g? I liked the strip but the title puzzles me.
eddi-TBH 2 days ago
What hath Reagan wrought?
eddi-TBH 2 days ago
The graph should show exponential growth of wealth for the wealthy