Posted on Dec 18, 2020
50 years of tax cuts for the rich failed to trickle down, economics study says
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Economy
Taxes
Posted 4 y ago
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SFC Kelly Fuerhoff Reagan's Voodoo Economics have thoroughly failed the Majority of Americans.
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All I can say by looking at *MY* budget sheets for the last 30 or so years is I had more money in my pocket with Trump and the least with Obama. Both Bush's were a slight increase and Clinton was slightly worse. I don't have records for the Reagan era.
I'm not an economist and micro/macro economy were the least paid attention to classes I took in college. Everyone tries to boil it all down to one or two "theories" and/or formulae and no one takes into consideration the differences between Free Enterprise, Capitalism and crony-Capitalism.
I'm not an economist and micro/macro economy were the least paid attention to classes I took in college. Everyone tries to boil it all down to one or two "theories" and/or formulae and no one takes into consideration the differences between Free Enterprise, Capitalism and crony-Capitalism.
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SSgt (Join to see)
How old are you? 4?
I guess my experience means nothing.
You know what? Nevermind. You have proven over and over you are not here for a discussion.
I guess my experience means nothing.
You know what? Nevermind. You have proven over and over you are not here for a discussion.
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Sgt Bruce C.
I am glad that has worked for you. For me as a government employee, air traffic controller, Reagan actions got me a great job, Bush 1 didn’t affect me much, Clinton helped by taking us away from the GS scale and Bush 2 costed me a lot, froze my pay
(Controllers pay) for 4 years while others (supervisors and staff) around me continue to get raises. Obama restored my paid that Bush took away and that really helped my retirement.
If every President could help everyone that would be great, but that doesn’t happen.
(Controllers pay) for 4 years while others (supervisors and staff) around me continue to get raises. Obama restored my paid that Bush took away and that really helped my retirement.
If every President could help everyone that would be great, but that doesn’t happen.
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SSgt (Join to see)
Sgt Bruce C. - I hear ya. I've been an independent contractor most of my civilian working life. The Obama era was compounded with Obamacare. For us, it nearly did a 4x increase on our health costs layout every year. That's not counting what taxes did to us. We lost nearly 30% of our NET income the month it went into affect. Each of us are affected in different ways. Which, to me, makes the article mostly meaningless as it tries to portray an even amount of pain all around due to "those rich guys".
Some of my best friends are millionaires; retired, still under 60, and they have a completely different viewpoint. When you make $20k or $50k or even $200k a month, a lot of the concerns you and I have completely disappear. Health cost start looking like a Big Mac does to you and I. Increased taxes just means go out and earn more & help more people earn more. You see, they've built a personal economy that is no longer dependent on a company or government - as long as the Free Enterprise system is allowed to live.
Some of my best friends are millionaires; retired, still under 60, and they have a completely different viewpoint. When you make $20k or $50k or even $200k a month, a lot of the concerns you and I have completely disappear. Health cost start looking like a Big Mac does to you and I. Increased taxes just means go out and earn more & help more people earn more. You see, they've built a personal economy that is no longer dependent on a company or government - as long as the Free Enterprise system is allowed to live.
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Trickle-Down Theory or Supply-Side Economic Theory
https://www.investopedia.com/terms/t/trickledowntheory.asp#:~:text=Trickle%20down%20economics%20is%20akin%20to%20supply-side%20economics%2C,wealth%20and%20advantages%20for%20the%20already%20wealthy%20few.
Demand-Side Economic Theory
https://www.investopedia.com/terms/s/supply-sidetheory.asp
https://www.investopedia.com/terms/t/trickledowntheory.asp#:~:text=Trickle%20down%20economics%20is%20akin%20to%20supply-side%20economics%2C,wealth%20and%20advantages%20for%20the%20already%20wealthy%20few.
Demand-Side Economic Theory
https://www.investopedia.com/terms/s/supply-sidetheory.asp
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