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Re:Federal Reserve raises rates by 0.75% by mbfg on Wednesday June 15, 2022 @03:03PM (#31757761)
please show where trickle down economics ever worked, anywhere.
Re:Federal Reserve raises rates by 0.75% by prepend on Wednesday June 15, 2022 @03:08PM (#31757828)
I mean the US economy in the 20th century seems like a pretty good example, right? It “worked” by having the wealthiest realize most gains but also making the US the most powerful economy in the world and still has a large sized middle class with houses, pensions, 401ks, etc.
Re:Federal Reserve raises rates by 0.75% by lovich on Wednesday June 15, 2022 @03:12PM (#31757888)
Funny, I seem to remember a certain president running on trickle down economics that coincided with the decline of worker compensation compared to executive and the shrinking of the middle class, but maybe I have history completely backwards

Edit:also look at the economic system practiced in the United States that led up to the introduction of trickle down economics. That happened in the 80’s and there’s 4/5ths of the 20th century that happened prior to that

Re:Federal Reserve raises rates by 0.75% by NotSammyHagar on Thursday June 16, 2022 @12:38PM (#31768087)
It's disingenuous to claim claim that trickle down economics worked when the widespread middle class in the 1950s was buoyed by more government spending, much much higher union membership and high taxes on rich people. The US did have widespread beneficial economic growth after the rest of the world was town down in ww2 and we weren't, but that has ended over time as Reagan and others started claiming trickle down was the way to go. We reduced taxes on the top, theoretically making it easier for rich to spend and induce jobs for the others, but the impact of 1970s to now is worse opportunities. In summary the time that trickle down econ. was supposed to help was the time where the non-rich started to lose their share more and more.
Re:Federal Reserve raises rates by 0.75% by mbfg on Monday June 20, 2022 @01:47PM (#31813261)
The rich have done astoundingly well yes. The middle class has gone steadily down hill from the 80s.
Re:Federal Reserve raises rates by 0.75% by deltree7 on Wednesday June 15, 2022 @03:10PM (#31757869)
An iPhone user in rural India surfing the open internet on $1 / month LTE mobile networks is absolutely an example of Trickle down economics working.

Every single of the thousands of innovation that goes into an iPhone was subsidized by rich venture capitalists and rich early adopters who were willing to plonk large sums of money to a 'gadget' that only showed promises of work.

It wasn't because the Indian Government Taxed the Rich and made a mandate that everyone should have an device-in-their-pocket-that-carries-all-the-worlds-information-and-productivity-tools

Re:Federal Reserve raises rates by 0.75% by lovich on Wednesday June 15, 2022 @03:16PM (#31757951)
Were trickle down economic principles followed by American politicians to benefit rural Indians?

I don’t think finding a silver lining in the end results of a process counts as it succeeding.

Re:Federal Reserve raises rates by 0.75% by NotSammyHagar on Thursday June 16, 2022 @12:40PM (#31768111)
No. You can't claim that good things were somehow examples of trickledown. India didn't create cell phones or LTE technologies, but of course individuals from that country worked at companies making these things. It's just silly to claim arbitrary technology improvements are examples of trickle down econ. For example, lots of technology is created by war time scientific advances, pushed by governments.
Re:Federal Reserve raises rates by 0.75% by JaimeThompson on Wednesday June 15, 2022 @03:18PM (#31757997)
>Every single of the thousands of innovation that goes into an iPhone was subsidized by rich venture capitalists and rich early adopters

Don't forget the governments which helped fund the basic research used to make such things, the middle and lower classes that pay more in property taxes so companies can be bribed to build factories, and other such things.

Put another way it's a much more complicated picture than just those two.

Re:Federal Reserve raises rates by 0.75% by nemo44x on Wednesday June 15, 2022 @03:30PM (#31758166)
Wealthy people pay almost all the taxes. the top 10% pay 71% of taxes and the top 25% pay 87%. 75% of the country contributes nearly nothing but complaints.
Re:Federal Reserve raises rates by 0.75% by JaimeThompson on Wednesday June 15, 2022 @04:08PM (#31758755)
>75% of the country contributes nearly nothing but complaints.

Only if you ignore sales tax, car tax, property taxes, and other such taxes.

The top 10% typically included major corporations but without a source I don't know if the percentage you use does.

Re:Federal Reserve raises rates by 0.75% by nemo44x on Wednesday June 15, 2022 @04:38PM (#31759160)
Sales tax, property tax, fees, etc are a rounding error essentially and are local. At a Federal level they are meaningless.

Saying that I'd be all for a Federal sales tax of 20% if we could nearly eliminate income taxes.

Re:Federal Reserve raises rates by 0.75% by mbfg on Sunday June 19, 2022 @02:28PM (#31801969)
A much higher percentage of what poor people buy is necessities compared to their salaries. They have much less choice as to buy or not. If a rich person were to buy at the rate a poor person does, it would be almost completely on frivolity. Sales taxes, imo, are especially targeted at the poor.
Re:Federal Reserve raises rates by 0.75% by lovich on Wednesday June 15, 2022 @04:46PM (#31759267)
Why? That puts more of the tax burden on those with the least
Re:Federal Reserve raises rates by 0.75% by darth_avocado on Wednesday June 15, 2022 @05:32PM (#31759728)
No it doesn't. Those with less to spend also spend less.

Contrary to popular belief, the so called utopias like Sweden, tax the poor at almost comparable rates as the rich.

Re:Federal Reserve raises rates by 0.75% by lovich on Wednesday June 15, 2022 @07:37PM (#31760824)
Those who earn less pay less in income tax and we still had to implement a progressive taxation policy because of how much a flat tax percentage hurts those without disposable income compared to the wealthy.

The poor already spend all their money on necessities. If you go to a flat sales tax it will hurt them more than the current progressive regime and favor the wealthy.

Re:Federal Reserve raises rates by 0.75% by _-david-_ on Wednesday June 15, 2022 @06:52PM (#31760450)
You can exclude necessities from sales taxes and alleviate most of the taxes paid by the poor.
Re:Federal Reserve raises rates by 0.75% by NotSammyHagar on Thursday June 16, 2022 @12:43PM (#31768154)
You have to include payroll taxes, all taxes. The top few percent have most of the wealth, too. When you include payroll taxes the tax distribution is much more even.
Re:Federal Reserve raises rates by 0.75% by ChuckNorris89 on Wednesday June 15, 2022 @04:06PM (#31758736)
>Wealthy people pay almost all the taxes

#define WEALTHY

Re:Federal Reserve raises rates by 0.75% by baal80spam on Wednesday June 15, 2022 @03:41PM (#31758330)
> top 25% pay 87%

Wow, this is pretty eye-opening.

Re:Federal Reserve raises rates by 0.75% by RyanHamilton on Wednesday June 15, 2022 @04:18PM (#31758884)
The 3 Richest Americans Hold More Wealth Than Bottom 50% Of The Country
Re:Federal Reserve raises rates by 0.75% by JaimeThompson on Wednesday June 15, 2022 @04:08PM (#31758767)
Only in regards to income taxes which may include large corporations. It doesn't include all the other taxes that nearly everyone pays.
Re:Federal Reserve raises rates by 0.75% by nemo44x on Wednesday June 15, 2022 @04:42PM (#31759205)
It is but it isn't surprising. Pareto Principal and all. So naturally, 20% of the people contribute 80% and 80% of the people contribute 20%, or thereabouts.

The bottom 50% contribute nothing and in fact are a net negative contributor when you consider welfare, housing, etc, and other benefits. Of course, this doesn't stop certain scumbag pols like Warren from lying to them that it's the other half that's ripping everyone off.

Re:Federal Reserve raises rates by 0.75% by typeofhuman on Wednesday June 15, 2022 @03:30PM (#31758165)
Great point. Don't know why you're being downvoted.