Another reason to be sick to your stomach

[True Dough]

While so many average Americans struggle to make ends meet, this is happening:

More Perfect Union
@MorePerfectUS

Corporate income taxes are $77 billion lower than last year, primarily due to the Republican tax cuts for the rich.

This figure represents a 15% decline from the previous year, according to the Congressional Budget Office.

[Botany]

1. So just because you have 50 years of data and looked @ 18 different countries what does that prove?

N/t

[littlemissmartypants]

2. I bet you can web search for that. ...

If you want to.

[littlemissmartypants]

3. A foregone conclusion, True. ❤️

[NNadir]

4. This is surprising?

[True Dough]

5. This is

another rallying cry.

[Joinfortmill]

6. He's gonna tank the economy.

[Celerity]

7. here is the actual article, from 2020

‘Trickle-down’ tax cuts make the rich richer but are of no value to overall economy, study finds

Data spanning 50 years and 18 countries shows lowering rates for the wealthy increases inequality

December 23, 2020

https://www.washingtonpost.com/business/2020/12/23/tax-cuts-rich-trickle-down/

https://archive.ph/4rwan



President Trump sold his 2017 tax cuts as “rocket fuel” for the economy, arguing that freeing up money for the wealthy would allow them to hire more workers, pay better wages and invest more. The tax savings, in other words, would trickle down from the rich to everyone else.

But, just as many economists predicted, slashing individual, corporate and estate tax rates was mostly a windfall for big corporations and wealthy Americans. The Tax Cuts and Jobs Act did not pay for itself, failed to stimulate long-term growth and did not lead to sustained business investments.

According to one of the most comprehensive studies to date on tax cuts for the rich, this should come as no surprise. A London School of Economics report by David Hope and Julian Limberg examined five decades of tax cuts in 18 wealthy nations and found they consistently benefited the wealthy but had no meaningful effect on unemployment or economic growth.

The researchers started by constructing a composite measure of “tax cuts on the rich” encompassing a variety of taxes, including the top tax rate on personal income, the estate tax and the tax on capital gains. Because these taxes are levied predominantly on the wealthiest members of society, the wealthy stand to gain the most when they are cut.

snip

[oldinmtdem92]

8. what a surprise

the shitholes were lying all the time wow ,how gullible are the people ?

[Diamond_Dog]

9. I don't know how any American finds this acceptable.

[CTyankee]

13. Those who believe their reward comes by going to heaven will accept anything.

That is what scares me about the repukes we have with us today. They are led by the religiously insane and will follow their leader right off the cliff. What have they got to lose?

[multigraincracker]

10. Big business are using those cut to buy up

their competition (investing) so their monopolies can better rig the markets. Results, higher prices for me and more profits for thee. That’s how unregulated markets work.

[mwmisses4289]

11. But we saw this happening in real time when

reagan fell for this theory by laffer hook line and sinker. It became pretty obvious within a few years that "trickle down" didn't (was more like "trick down&quot work at all. But the r's kept trying to sell it, and apparently still are.

[ProfessorGAC]

12. Well, Duh

While obtaining my MBA, my econometrics paper was on the effects of the Reagan tax cuts.
The same conclusion was easily reached then, at that was nearly 30 years ago..
My Randian instructor hated that he couldn't refute what the math showed.

[GiqueCee]

14. Hmmm...

... I thought increasing inequality was the whole point. Otherwise, how can the filthy rich look down on the rest of us?