28 Mar 2023 8:48 am
Xavier_Onassis » 27 Mar 2023, 3:11 pm » wrote: ↑ Here is an interesting and at least
partially correct observation
Trickle-down economics was a macroeconomic policy that started under the Reagan administration. The theory was that the private sector does a better job of aiding prosperity than the government and regulation schemes that can actually be counterproductive. For example, do you tax the rich and pay a citizen in welfare or do you offer a job to that person? According to the supply side theory the latter is more beneficial.
The problem of course is the fact that this scheme causes more and more wealth to be held at the top which is still a problem today. The poor and middle class don't necessarily get poorer although that is a possibility, but the rich due get richer hence the contemporary inequality argument.
Nothing is easier than defending the status quo.