Supply-Side Economics

[RickeyM]

Republicans/conservatives definition of trickle-down economics:
Sit there and wait, or hope, for our crumbs.

[Reason10]

Originally Posted by finnbow

Here's an interesting, informative piece spelling out the intellectual bankruptcy of supply-side economics:

Modern conservatism is built around the promise of supply-side economics — an economic philosophy that claimed to allow Republicans to cut taxes, maintain popular social programs, robustly fund defense and balance the budget. The problem: Supply-side economics hasn’t actually worked as promised, but the GOP refuses to abandon it.

And that, more than hypocrisy, is the real problem facing Republicans — they have principles; those principles just don’t work.

https://www.washingtonpost.com/news/...ed-principles/

The failing Washington Post commenting on the highly successful Supply Side Economics is like a street hooker lecturing Mother Teresa on being a virgin.

[finnbow]

Originally Posted by Reason10

The failing Washington Post commenting on the highly successful Supply Side Economics is like a street hooker lecturing Mother Teresa on being a virgin.

First of all, the Washington Post is not anywhere close to failing. Secondly, a recently released and peer-reviewed study revealed:
"cutting taxes for the rich only leads to higher income inequality and does not reduce unemployment or fuel economic growth."
https://www.livemint.com/news/world/...783706111.html

I fully understand the appeal of an economic theory that effectively states that "you can have everything you want but will have to pay for it with tax cuts," but it simply isn't true and never has been.

[RickeyM]

Originally Posted by finnbow

First of all, the Washington Post is not anywhere close to failing.

The Washington Post is too failing. Donny says so, so there, take that. Blah-blah-blah

[Chicks]

Meet the Hidden Architect Behind America's Racist Economics

https://www.ineteconomics.org/perspe...ver-of-america

[BlueStreak]

Originally Posted by finnbow

First of all, the Washington Post is not anywhere close to failing. Secondly, a recently released and peer-reviewed study revealed:
"cutting taxes for the rich only leads to higher income inequality and does not reduce unemployment or fuel economic growth."
https://www.livemint.com/news/world/...783706111.html

I fully understand the appeal of an economic theory that effectively states that "you can have everything you want but will have to pay for it with tax cuts," but it simply isn't true and never has been.

Honestly, I would think that people, especially those hit hard by deindustrialization would realize this by now. Time and time again, they fall for this and it does little to nothing to relieve the loss of employment in their region.

Moreover, isn't the GOP supposed to be the "party of self-reliance"? Okay so, if a Republican loses his job, shouldn't he just get busy finding some other way to make a living instead of expecting the government to get him his job back?

[donquixote99]

Originally Posted by Chicks

Meet the Hidden Architect Behind America's Racist Economics

https://www.ineteconomics.org/perspe...ver-of-america

Buchanan's thought stands as academically respectable, Nobel-endorsed Randism, elaborated into policy prescriptions. Like Randism, it is a structure of motivated reasoning in the service of class bias and and money worship. He gained dangerous influence through Koch money.

[finnbow]

Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.

Well, duh.

https://www.cbsnews.com/news/tax-cut...-trickle-down/

[Chicks]

'Dismal failure': Paul Krugman buries GOP attempts at rewriting legacy of its massive tax cuts

https://www.rawstory.com/gop-tax-cut-failure/

[Chicks]

Buffett: It's 'corporate fiction' to say higher business taxes hurt customers

https://finance.yahoo.com/news/buffe...172536348.html

“When people talk about how it all gets passed through to the customer and everything...it doesn't in most of our businesses,” Buffett said. According to Buffett, only in the utility business is this the case, and it’s a special case.

“I mean, it's just — it's a corporate fiction when they put out statements about the fact that this will be terrible for all of you people if we pay more taxes,” Buffett said.

Buffett’s statement is in line with analysts like BMO’s Brian Belski, who wrote recently that "tax increases have been far from detrimental to U.S. stock market performance.”