Trickle down is the biggest American myth ever told
Trickle down really refers to the draining of our middle class.
“Trickle down” is the biggest myth ever perpetrated on the American public. The top 1% controls more of the wealth than ever, yet there is a lack of well paying jobs. That’s because they’re hoarding all the money
So far into Trump’s presidency all three of those pillars have been executed with startling precision.
The income distribution in our country will not get better until we wake up to the dangers of trickle down.
“Trickle down economics”, the thought that cutting taxes on the wealthy will create so many new jobs they will pay for themselves, has never worked.
Reagan tried them – they failed
Bush II tried them – they failed
Kansas, Wisconsin, Michigan, and a whole list of other Red States tried them – they failed!
Time and time again the only thing these tax cuts have done is enrich the already extraordinary wealthy while blasting holes in the budgets across the land.
Want to know what works?! Progressive taxation! Since the wealthy hoard most of their money and don’t do anything productive with it, it should be taxed at a higher rate. This extra revenue from the wealthy can then be used to fund education, infrastructure, research, and cutting taxes to working people…like you! Let me repeat, raising taxes on the wealthy means you would pay less!
People who work for a living spend the majority of their income on goods and services. People who work for a living provide goods and services to other people. When people spend more money on goods, that means more jobs! This isn’t rocket science.
When Bill Clinton raised the tax rate a small amount on the wealthiest, the economy boomed.
When Minnesota raised the tax rate a small amount on the wealthiest, the economy boomed.
When California raised the tax rate a small amount on the wealthiest, the economy boomed.