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Originally Posted by Mattyk72
Did trickle down ever work at anything other than making the gap between the rich and poor even greater?
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Originally Posted by hooskins
I think no one can dispute that people in general are better off since the 80's, but the rising tide did NOT lift all boats equally. To me that is the concern with trickle-down.
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"Trickle down" economics was never meant to make everyone rich. It's a basic premise which says that government should get out of the way of people who are trying to make life better for themselves.
Rich people don't hide their money in mayonnaise jars and bury it in their back yard. They save it, which enables banks to make loans; they invest it, which provides capital to companies who in turn, use it to expand and hire more of the low and middle class; or they spend it; and yes they buy expensive things like yachts, million dollar homes, fancy cars and luxurious vacations. That, I believe is what makes the low and middle class so angry. But even there, the people who build, market, and sell yachts, million dollar homes, and fancy cars benefit
because they have a job!
When you try to nail wealthy people to the wall, sooner or later it will affect the low and middle class. When you stop punishing the wealthy and let them succeed, it ultimately benefits the low and middle class.
That's the essence of 'trickle down' economics.