"“trickle-down” economics — a concept pushed by Republican to justify slashing taxes on the wealthy — have only benefited the rich and worsened economic inequality while failing to decrease unemployment or grow the economy."
"A paper from the London School of Economics and Kings College’s London, looked at the effect of 50 years of tax cuts for the wealthy in 18 developed countries: the concept has always been flawed."
salon.com/2020/12/27/50-year-s…
#economy #republicans #taxtherich #trickledown
50-year study of tax cuts on wealthy shows they always fail to "trickle down"
Tax cuts for the rich increase inequality and don’t grow the economy or decrease unemployment, research shows consistentlyIgor Derysh (Salon.com)
The Human Capybara
in reply to The Human Capybara • • •Link to the original research studying 50 years of tax cut in 18 countries.
"The Economic Consequences of Major
Tax Cuts for the Rich"
"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."
It's called FACTS.
researchonline.lse.ac.uk/id/ep…
#tax #economy #wealth