Trickle down economics

Fenixgoon

Lifer
Jun 30, 2003
32,867
12,131
136
I'm shocked. Well, not that shocked.

Or maybe pissed off...(Better than pissed on)
 

HomerJS

Lifer
Feb 6, 2002
38,059
30,823
136
It has been successful in widening the income gap since 1979.

439-4399597_the-gap-changes-in-share-of-income-vs.png
 

trenchfoot

Lifer
Aug 5, 2000
15,445
7,970
136
All I see is Trump's supporters skipp'in-n-uh-hopp'in down the road singing "Raindrops keep falling on my head....."
 
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BonzaiDuck

Lifer
Jun 30, 2004
16,110
1,722
126
Let's put enough empirical cards on the table to fully make sense of our current "problem".

In 2003, after West Virginia's aging Senator Byrd filibustered beyond the capabilities of most people his age, Bush went forward with his plan to overthrow Saddam Hussein with the Iraq War. Most important about this is Bush's decision to cut taxes when it has always been recommended to raise taxes when waging a war.

I remember that my own tax cut amounted to no more than $500, and I distinctly remember that I told myself and others that I didn't want any goddam tax-cut: that I thought taxes should be raised. There is still enough fact in hindsight to say that the war in Iraq was unnecessary, but what we have today is a different world order because of it, and additional costs we sustained from unleashing ISIS and further meddling in Syria. Lay the blame on this or that President, but since 2003, taxes should have been raised to cover the cost of deficit increases and additions to the national debt. And choices about spending should have been tempered by more than just a pie-in-the-sky belief that lowering taxes would actually increase revenues to the degree that the problem would be solved.

The current illegitimate President -- Criminal, Rapist, Liar, Tax-Fraud, Racist-Filth and Traitor -- had already added $8 Trillion to the national debt as of his last bite at the apple. Few members of Congress from either party will promote the idea of tax increases, but the current status of affairs has encouraged radical reactionaries like Trump's OMB Director and other architects of Project 2025 to simply ignore the system of government, Law and procedure honored in this country throughout its history.

Do I think that raising taxes need send people like me or those with lesser income into penury? No. But we certainly understand where the un-American South-AFrican pathogen is coming from : he and a small number of the like-minded still promote the idea of Trickle Down, as they piss on our Law and our Republic.

I can see the dire historical ramifications for allowing the Criminal Illegitimate Trump Regime to continue. On the other hand, what would be the historical ramifications if Congress simply voted to expropriate Space-X and Star-Link, and then tax Musk and friends to the degree their socio-economic class was taxed during the 1950s?

I don't care about them. I'm not going to fight wars that they create or which benefit them. I'd sell them all out in an instant. Their welfare and prosperity has nothing to do with my own, but they are threatening my security as I speak -- without any authorization from Congress and as an agent for one of the most degenerate and unprincipled leaders in American history.

Marx predicted that Capitalism would destroy itself. Responsible governments beginning with Roosevelt and America's labor movements for a time insured that this would not happen. But here we are. Even so, I have always maintained that Capitalism as an ideology is off center, if Capitalism is basically just a process and mechanism of longstanding historical relevance. Adam Smith laid the groundwork for the ideology; Marx produced a scholarly work that was supposed to refute or answer Smith. But most people hardly understand that.
 
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pmv

Lifer
May 30, 2008
14,573
9,424
136
It's ironic how this has all turned out. As I understand it, the neoliberal movement started as a reaction against the authoritarianism (of left and right) of the '30s. The idea was to limit the potential power of the state, and to carve out a protected domain for 'business' and 'the market', that political actors would not be able to control. And thus to stay off "The Road To Serfdom". Yet in practice it turned into an assault on social democracy and the massive increase in inequality it led to has given rise to a gang of elite plutocrats, with immense power - alongside a growing disgruntlement in the working class.

And those two groups - the entitled plutocrats (who have gotten used to thinking of themselves as Masters of The Universe, to the point of having essentially completely lost touch with reality in some cases) and the part of the working class that used to be doing relatively well (white and Western and male, particularly the Boomer generation - many of whom seem to also have gone a bit loopy) have formed a kind of coalition to try and take power. Threatening to bring about precisely the outcome the neoliberal project was supposed to prevent. (Despite the fact that the second group are disgruntled largely because of the actions of the first, and past examples suggest that it's likely the arrangement isn't going to work out well for one or other of those groups)
 

Muse

Lifer
Jul 11, 2001
39,899
9,595
136
"who's got your 16 hundred thousand dollars?" Bruh needs to edit that.
Through the brogue I didn't get that but the message came through loud and clear. Wealth inequality is leading to our destruction.

TAX THE RICH

TAX THE RICH

TAX THE RICH

TAX THE RICH

TAX THE RICH

TAX THE RICH

TAX THE RICH