50 years of tax cuts for the rich failed to trickle down, economics study says

[Lilith7]

As you have said Lilith7:

https://www.cbsnews.com/news/tax-cuts-ri...ckle-down/

That's not even slightly surprising - & surely politicians can't fail to be well aware of it. So either they very,very ignorant & genuinely don't know - or they know very well & just do not care, as long as its not them struggling.
Miserable bastards.

I've heard 'trickle down' described as the rich pissing on the poor, which makes more sense than the pretence of 'trickle down'...



"Per capita gross domestic product and unemployment rates were nearly identical after five years in countries that slashed taxes on the rich and in those that didn't, the study found. 
But the analysis discovered one major change: The incomes of the rich grew much faster in countries where tax rates were lowered. Instead of trickling down to the middle class, tax cuts for the rich may not accomplish much more than help the rich keep more of their riches and exacerbate income inequality, the research indicates.

"Based on our research, we would argue that the economic rationale for keeping taxes on the rich low is weak," Julian Limberg, a co-author of the study and a lecturer in public policy at King's College London, said in an email to CBS MoneyWatch. "In fact, if we look back into history, the period with the highest taxes on the rich — the postwar period — was also a period with high economic growth and low unemployment."