Reaganomics, also called Trickle-down Economics was based on a claim that lowering taxes on the wealthy and large corporations would stimulate the economy. The common worker would benefit from increased wages and job security. This turned out to be false.
Between 1981 and 1989, the Trickle-down Economics years, the national debt tripled The Balance. The policy had no affect on GDP and workers wages were stagnant. What it did do was make the very wealthy into the very very wealthy.
In a 2020 research paper, economists David Hope and Julian Limberg analyzed data spanning 50 years from 18 countries, and found that tax cuts for the rich increased inequality in the short and medium term, and had no significant effect on real GDP per capita or employment in the short and medium term. According to the study, this shows that the tax cuts for the upper class did not trickle down to the broader economy. From 1980 to 2016, a divergence in the distribution of wealth was noted, with the top .01% of earners seeing a 600% change in real income, vs a 0% change in the bottom 99%, leading to the top 1% accruing 15% more of the total wealth pool, from a share of 15 to 30%. Wikipedia
US President for Life hopeful Donald Trump‘s Trumpanomics is exactly the same as Reaganomics. Why would the giant rapist Phil and co want his boy Trump to make the wealthiest wealthier? It’s their chance to rule for 1000 years. They can create a following of the families with the most wealth and gain their protection when they are children again. Then the want to continue conquering the world and playing god(s). The common people might live as socialists, but they wont.
Ever wonder why the giant rapist Phil and co wanted a race war for the environment but dictate to the right an anti climate change narrative? Wonder why Trump cut the 15% tax treaty on corporations Biden negotiated with 130 countries?
Did you know? The Tate – LaBianca murders happened when Roman Polanski wasn’t home. Polanski is a holocaust survivor who wrote and directed Rosemary’s Baby, a movie about a woman who is pursued by a cult of wealthy white people trying to kidnap her newly born demon child.
- Tax cuts for the wealthy only benefit the rich: debunking trickle-down economics London School of Economics and Political Science
- Why Trickle-Down Economics Works in Theory But Not in Fact The Balance
- List of largest private non-governmental companies by revenue Wikipedia
- Multi National Corporation Wikipedia
- Reaganomics and Trumpanomics 4dforum.org
- 130 countries back deal on global minimum tax for companies APNews
- The Interesting Case of Charles 4dforum.org