50 year study: tax cuts for the rich don't fuel economic growth

Ficciones

Active member
  • Large tax cuts for the rich cause higher income inequality, and don't fuel economic growth or cut unemployment, a new paper by academics from the London School of Economics and King's College London shows.
  • Their analysis of 50 years of tax cuts for the wealthy in 18 countries counters arguments that such cuts have "trickle-down" effects for the rest of the economy.
  • "Cutting taxes on the rich increases top income shares, but has little effect on economic performance," the researchers concluded.

 

Authentic Nouveau

Well-known member
  • Large tax cuts for the rich cause higher income inequality, and don't fuel economic growth or cut unemployment, a new paper by academics from the London School of Economics and King's College London shows.
  • Their analysis of 50 years of tax cuts for the wealthy in 18 countries counters arguments that such cuts have "trickle-down" effects for the rest of the economy.
  • "Cutting taxes on the rich increases top income shares, but has little effect on economic performance," the researchers concluded.

You are not educated in economics. Typical left wingerism.

My office was 2 doors down from an investor that owned 300 million dollars worth of stock in the bank which owned our office tower. She owned more stock in her company.
That means the bank reserves could loan me money to buy my company. It means money for commercial and consumer loans. As a Marxist, if you FORCE her to sell stock to pay Joe Xiden taxes, the lending will stop.

Apparently math is like a border wall which blocks you from learning economics.
 

Authentic Nouveau

Well-known member
  • Large tax cuts for the rich cause higher income inequality, and don't fuel economic growth or cut unemployment,
How ignorant
Big Ears retarded in economics

How mad are you at President Trump for setting RECORD LOW UNEMPLOYMENT for blacks and Hispanics? That is called reducing inequality.

Rabid Marxist and their junk inequality messaging. Poor people will continue to not save money. Your Stalin stench wants to punish saving.
Our adult children worked and earned scholarships so they could NOT need to go to their trust funds.
 

Gus Bovona

Active member
You are not educated in economics. Typical left wingerism.

My office was 2 doors down from an investor that owned 300 million dollars worth of stock in the bank which owned our office tower. She owned more stock in her company.
That means the bank reserves could loan me money to buy my company. It means money for commercial and consumer loans. As a Marxist, if you FORCE her to sell stock to pay Joe Xiden taxes, the lending will stop.

Apparently math is like a border wall which blocks you from learning economics.
Do you find trouble focusing on what others say, or understanding what others say, in other areas of your life? Has anyone outside of CARM ever brought this up to you?
 

Temujin

Well-known member
You are not educated in economics.
Neither are you, obviously. I am however. I attended one of the institutions in the OP, and in case there is any doubt whatsoever, I can confidently inform the rest of the board that you are talking through your anal orifice.
 

Faithoverbelief

Active member
  • Large tax cuts for the rich cause higher income inequality, and don't fuel economic growth or cut unemployment, a new paper by academics from the London School of Economics and King's College London shows.
  • Their analysis of 50 years of tax cuts for the wealthy in 18 countries counters arguments that such cuts have "trickle-down" effects for the rest of the economy.
  • "Cutting taxes on the rich increases top income shares, but has little effect on economic performance," the researchers concluded.

Oh but trickle down does work. Trickles from corporation to owners pocket.
 

Authentic Nouveau

Well-known member
Soross and his sockpuppets advertise "income equality"

So in the Socialist UTOPIA of Korea Norte they sure have equality 28 billion GDP and peanuts for per capita GDP

Koch Industries annual Revenue is highly confidential. At least 5 times the GDP of Rocketmanstan. Communists hate Koch. (I met the dad before he passed away)

Where do you want to live and work? The mental poverty of Marxist is astounding.

5 year ago some poor dude wanted to ROB an AT&T store. Get income equality without working and earning $$
He shot a customer named Julie. With Oxygen deprivation from bleeding out she had a few AMPUTATIONS..
Her Insurance would NOT cough up $260,000 for electronic hands.
Merry Christmas, A KOCH executive gave some of his Christmas bonus and bought her 260,000 dollar hands as a Christmas Present.
In socialist Utopia she would have died.

By the way, the 'Wuhan Fru contrived panic is making Koch richer. He owns G-P which makes trainloads of toilet paper and OSB (plywood) which stores use to close windows when Democrate crazies knock out the glass and do looting. (again looting is a second approach to cope with income inequality instead of working)
School lockdowns will stunt economic growth in the distant future. Fredo Cuomo wants that.

These school lockdowns will do even more long term damage to the poor who really need to stay in school to get ahead.
 

Ficciones

Active member
Interesting article. I've believed that there was already plenty of evidence to debunk trickle-down economics, but this is close to sticking a fork in the idea...

It won't make a difference. People believe in trickle-down for ideological reasons; they want the status quo because they're either rich, or falsely identify with the rich because of anecdotes and memes on Facebook. Just think: before Facebook, think tanks like AEI had to rely on books, radio, television and newsletters to bamboozle the rubes. Now, the rubes do it to themselves.
 

Harry Leggs

Active member
  • Large tax cuts for the rich cause higher income inequality, and don't fuel economic growth or cut unemployment, a new paper by academics from the London School of Economics and King's College London shows.
  • Their analysis of 50 years of tax cuts for the wealthy in 18 countries counters arguments that such cuts have "trickle-down" effects for the rest of the economy.
  • "Cutting taxes on the rich increases top income shares, but has little effect on economic performance," the researchers concluded.

Does this mean you favor equality in tax payments across the board like 10% for all? No you do not.

Get your job from a poor man.
 

Harry Leggs

Active member
I believe that work creates wealth, and the people who do the work deserve the wealth.
Work for who? Who are they working for? Who owns the building? Who owns the equipment? Who is responsible for the insurance? Who has to pay the bills if there is a shortfall in sales and not enough to pay? The workers? No, it is the business owner who takes all the risks and has to make a profit with all the regulations including race mandates. Not enough blacks or females? Trigger an investigation by the feds and even state officials. OSHA standards etc.

How many poor men created jobs where you can work?
You do not believe in tax equity.
You believe in tax inequity then attempt to spin it all. Overtax the rich and they leave and take their businesses with them. That is what is happening in Dem run cities like NYC and Ca where the taxes are outrageous.

That is why they ousted Trump. Trump was not about bailing out Dem run hellholes who mismanage money and need money from the government (other states) to compensate for their incompetence. Don't know how to balance a checkbook. Don't know enough to spend less than they take in or live by a budget as we all do.

Life does not guarantee you a job. The business owner owes you nothing except a wage. If you get a job then he is doing you a good. Taking you on. Trusting you with his equipment. Do you trust others driving your car?
 

Ficciones

Active member
Work for who? Who are they working for? Who owns the building? Who owns the equipment?

People have been brainwashed into idolizing those who sit on their butts and make money in their sleep, and vilifying the people who actually do the work and create the wealth.
 

Ficciones

Active member
Have any of you read the paper linked in the article? This is empirical evidence, not ideology.

Abstract

[...] We find that major reforms reducing taxes on the rich lead to higher income inequality as measured by the top 1% share of pre-tax national income. The effect remains stable in the medium term. In contrast, such reforms do not have any significant effect on economic growth and unemployment.

Tax cuts do not create economic growth or reduce unemployment. THEY MAKE THE RICH RICHER.
 

Whateverman

Well-known member
Have any of you read the paper linked in the article? This is empirical evidence, not ideology.



Tax cuts do not create economic growth or reduce unemployment. THEY MAKE THE RICH RICHER.
As you predicted, those who favor trickle-down economics in this thread do so for reasons of ideology, rather than actual fiscal policy.
 
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Authentic Nouveau

Well-known member
The uneducated

So some tabloid gets some story from some foreign sources. Just wow

The GDP growth forecasts are comprised of a long list of variables with variation of coefficients of determination. None of the 18 little countries are like The US and all of them have other factors. America is 24.6 % of the planet's GDP. Those little other countries are not relevant.

So some Oligarch in Hunterstan gets a tax cut. He invests his net savings in Joe Xiden/Hunter mutual fund and not in his country. Wife ofMayor of Moscow "invested " 3.5 million into the Biden Funny Money Market Fund instead of Russia.
 

Harry Leggs

Active member
People have been brainwashed into idolizing those who sit on their butts and make money in their sleep, and vilifying the people who actually do the work and create the wealth.
Come back when you have something. Go back to the shallow end of the pool.
 

Ficciones

Active member
The GDP growth forecasts are comprised of a long list of variables with variation of coefficients of determination. None of the 18 little countries are like The US and all of them have other factors. America is 24.6 % of the planet's GDP. Those little other countries are not relevant.

All the more reason to take the study seriously. The effects are consistent across all those economies. (you did notice that the US is one of those "18 little countries", right?)
 
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