In mathematics, a “point of inflection” is the point at which a function stops falling and starts growing or stops growing and starts falling. In the language of calculus, we say that a point of inflection is where the second …
The Well-Being of Working Class Americans Hit a Downturn in 1980 Read More »
In the video here, Ronald Reagan makes the point that Democrats think that every Republican elected to the White House is sure to bring disaster to the country. Actually, even in the case of Reagan himself, most progressives don’t think …
What American author and journalist William Blum says here seems correct. The reason trickle-down economics doesn’t work is that making rich people richer does not provide them with any incentive to hire additional people. I had over 100 employees at …
The meme here from a reader. These really are five excellent sentences–for people who have no understanding of how the developed world became developed, and how the United States became the world’s super-power following the close of the Second World …
Creating a Wealthy Society Requires an Understanding of Economics and History Read More »
And precisely what is this “edifice” to which MLK was referring? I would simply say trickle-down economics. Lowering the top federal tax bracket from 90% to 28%, while taxing Social Security benefits and handing out huge additional tax breaks for …
All true. Yet we have neither the interest nor the capacity to turn this around. Progressives would like to see a tax schedule that looks like what we had between the end of World War II and Reagan’s inauguration, but …
A reader asks, “What is wrong with Republicans? Don’t any of them get diabetes?” The problem is that these congresspeople represent people who don’t think that government should be in the business of doing anything good for the American people. …
Forty years after Reagan and the advent of “trickle-down” economics, it’s widely recognized that the theory was an abject failure. Of course, it didn’t fail the rich, whose already-huge piece of the pie has ballooned since 1980, an outcome that …
Really? Are you saying that trickle-down economics (aka voodoo economics) has failed? Just like it did every time and everywhere else it’s been foisted off onto an unwitting public? That’s just astounding. Just as bad, it will continue to be …
The idea behind “trickle-down economics,” aka “Reaganomics,” as lampooned in the meme here, has been roundly discredited by the people who study this subject.
