What is the evidence of the trickle down effect of economics?
Many politicians claim that wealthy companies equal investment in the people. Is this the best method of mutual growth?
Turn it around, what is the evidence of trickle up economics? I heard Obama say early in his term that he would build the economy from the bottom up. Ever got a job from a poor person? Do poor people purchase cars, tires, TVs, new homes, vacations, clothing, etc.??? Wealth is spent on others. Statistics say a dollar earned will pass through 7 hands before leaving the area. How many dollars do the poor pass around? .........hence trickle down economics. There is no argument for those who can't see this.
I'm sorry, but you dodged the question.
instead of redirecting, answer the question. Is there evidence that trickle down works? the wealthy have been doing really well for well over 20 years, isn't this trickle down in action?
There is certainly evidence where I live. New homes are being built for miles all around me. Unemployment is around 5%, taxes have been lowered indicating the rich are paying in plenty according to IRS, what more do you need?
The evidence is that the wealthiest 1% are getting progressively richer, while the rest of us get progressively poorer. In other words, there is no evidence, and all the statements of that supposed rule are just forms of propaganda. As I wrote in one of my Hubs recently: "The richest 1,000 people in Britain – 0.0003% of the population – have accumulated more wealth in the last three years than the entire national deficit. In fact they could pay off the deficit and still £30 billion to spare." This will apply in the USA as well as the UK.
As Michael Meacher MP said, in a recent letter to the Guardian: “77% of the budget deficit is being recouped by public expenditure cuts and benefit cuts, and only 23% is being repaid by tax increases. More than half of the tax increases is accounted for by the VAT rise which hits the poorest hardest. None of the tax increases is specifically aimed at the super-rich.”
In other words, it was the super rich who created the deficit, but it's the rest of us are expected to pay.
Just like to add that I've covered this topic here: http://cjstone.hubpages.com/hub/We-do-t … the-wealth
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