Trickle Down Economy

[Fool]

so if the idea is to give the wealthy more tax breaks so as to create jobs, why then is the income gap between the haves and have nots shrinking?


why isn't that wealth being distributed equally in real numbers?


are they actually investing in new job creation and innovation?

 

[Heyo]

so if the idea is to give the wealthy more tax breaks so as to create jobs, why then is the income gap between the haves and have nots shrinking?


why isn't that wealth being distributed equally in real numbers?


are they actually investing in new job creation and innovation?

No, at least most are not. Most of the super rich don't actively do anything. They invest in stocks (and derivatives). That may lead to new jobs if the corporation is local and itself investing in new jobs but it may also lead to less jobs if the corporation uses the money for automation.
Giving tax cuts to the rich and hoping it will lead to jobs is pretty dumb, especially as it didn't for the last 40 years.

 

[Shadow Wolf]

so if the idea is to give the wealthy more tax breaks so as to create jobs, why then is the income gap between the haves and have nots shrinking?


why isn't that wealth being distributed equally in real numbers?


are they actually investing in new job creation and innovation?

Most wealthy people aren't job creators and tons of job creators aren't among the wealthy. So it's faulty from the start.

 

[Revoltingest]

Most wealthy people aren't job creators and tons of job creators aren't among the wealthy. So it's faulty from the start.

When they deposit or invest their
money, this creates/maintains jobs.
Even when they spend it on yachts,
this too works.

 

[Shadow Wolf]

When they deposit or invest their
money, this creates/maintains jobs.
Even when they spend it on yachts,
this too works.

Lots of wealthy people are Like pro athletes and movie stars. They make up a huge chuck of the wealthy. But according to Stephen King he doesn't create many jobs.
That's because without consumers there are no jobs.

 

[Revoltingest]

Lots of wealthy people are Like pro athletes and movie stars. They make up a huge chuck of the wealthy. But according to Stephen King he doesn't create many jobs.
That's because without consumers there are no jobs.

Well, if Stephen King says so....
Many people create/maintain jobs....not just consumers.

 

[Shadow Wolf]

Well, if Stephen King says so....
Many people create/maintain jobs....not just consumers.

Yeah, but as for the wealthy? Like the NFL. Joe Montana doesn't play anymore, Dan Marino doesn't play anymore, Tom Brady is in the evening of his career, but it will keep going with future star quarterbacks.
That's lots of wealthy players who aren't creating the jobs. That's mostly the fewer people running the [tax exempt] NFL Players Club. And even then I do believe they wouldn't generate as much as they do if they didn't get special treatment and privileges from the government at local, state and federal levels.

 

[Revoltingest]

Yeah, but as for the wealthy? Like the NFL. Joe Montana doesn't play anymore, Dan Marino doesn't play anymore, Tom Brady is in the evening of his career, but it will keep going with future star quarterbacks.
That's lots of wealthy players who aren't creating the jobs. That's mostly the fewer people running the [tax exempt] NFL Players Club. And even then I do believe they wouldn't generate as much as they do if they didn't get special treatment and privileges from the government at local, state and federal levels.

Many of us earned some money during our working lives.
We get to keep it, even if liberals believe we shouldn't
have it. We get to retire on it, even if liberals think we
should subsist on Social Security, or just keep working.

What do we do with our money?
It gets spent on products & services that are provided
by jobs. We save it, & it gets lent to people who buy
or build homes & factories. Jobs. This is something
one learns much about when starting & running a
business.
Know what doesn't create jobs?
Stabbing people. Oh, snap!

 

[Shadow Wolf]

Many of us earned some money during our working lives.
We get to keep it, even if liberals believe we shouldn't
have it. We get to retire on it, even if liberals think we
should subsist on Social Security, or just keep working.

What do we do with our money?
It gets spent on products & services that are provided
by jobs. We save it, & it gets lent to people who buy
or build homes & factories. Jobs. This is something
one learns much about when starting & running a
business.
Know what doesn't create jobs?
Stabbing people. Oh, snap!

That has what to do with my post?

 

[Revoltingest]

That has what to do with my post?

A great deal.

 

[Heyo]

When they deposit or invest their
money, this creates/maintains jobs.
Even when they spend it on yachts,
this too works.

If they order their yachts at the local shipyard.

And investments only create jobs when they are in stocks, not derivatives and it has to be stocks of local corporations and the corporations have to use it to create jobs, not destroy them by using the investment for automation.

Too many "ifs" to justify tax cuts for the rich. The money is better invested in infrastructure. There is the job creation guaranteed.

 

[Revoltingest]

If they order their yachts at the local shipyard.

Not all jobs are local. When I buy a trailer hitch
that's made in ND, that helps jobs there. And
I'll wager that people in ND buy things from MI.
I buy things from many places. This is good.

And investments only create jobs when they are in stocks, not derivatives and it has to be stocks of local corporations and the corporations have to use it to create jobs, not destroy them by using the investment for automation.

Condemning a complex financial device
without even explaining why, eh. Too glib.

Too many "ifs" to justify tax cuts for the rich. The money is better invested in infrastructure. There is the job creation guaranteed.

Why talk of "tax cuts for the rich"
without a context, eh. Is this post
just a list of leftish talking points?

 

[Heyo]

Why talk of "tax cuts for the rich"
without a context, eh. Is this post
just a list of leftish talking points?

The context is in the title. "Trickle down" was the promise that the rich would invest in more and better paying jobs. That didn't happen.
Since about 1980 middle class income has practically stagnated while the 1% got richer and richer.
Can we at least agree on that fact before we go on?

 

[Revoltingest]

The context is in the title. "Trickle down" was the promise that the rich would invest in more and better paying jobs. That didn't happen.
Since about 1980 middle class income has practically stagnated while the 1% got richer and richer.
Can we at least agree on that fact before we go on?

I think we're looking at a consequence of increasing
automation, & the lessening value of unsophisticated
workers. To say that tax cuts for the wealthy (if they
actually existed) were ineffective would be hard to
judge because there's no alternative scenario to
compare.
FYI, I oppose cutting taxes for the wealthy using
the reasoning that benefits will pass to lesser folk.
Tax policy's effects are never so simple.

 

[Heyo]

I think we're looking at a consequence of increasing
automation, & the lessening value of unsophisticated
workers. To say that tax cuts for the wealthy (if they
actually existed) were ineffective would be hard to
judge because there's no alternative scenario to
compare.

Independent of the reasons, we agree on the fact that wealth and income inequality has increased?
(And politics has failed to prevent it.)

FYI, I oppose cutting taxes for the wealthy using
the reasoning that benefits will pass to lesser folk.
Tax policy's effects are never so simple.

Yep, we fully agree on that one.

 

[Revoltingest]

Independent of the reasons, we agree on the fact that wealth and income inequality has increased?
(And politics has failed to prevent it.)

Sure.
But you could explain how that makes
Democrats now "conservative".

 

[Heyo]

Sure.
But you could explain how that makes
Democrats now "conservative".

That's in the other thread.

 

[Revoltingest]

That's in the other thread.

OK.

 

[JustWondering]

are they actually investing in new job creation and innovation?

I'm sure they create a lot of new jobs in China, India, and Mexico.

 

[Twilight Hue]

so if the idea is to give the wealthy more tax breaks so as to create jobs, why then is the income gap between the haves and have nots shrinking?


why isn't that wealth being distributed equally in real numbers?


are they actually investing in new job creation and innovation?

I discovered/realized trickle down is grabbed by so many hands on its way to the floor that there's barely anything left once it arrives.

I'm now in favor of trickle up.