Does Trickle-Down Economics Actually Work? Robt. Reich

[appalachiablue]

- Does Trickle-Down Economics Actually Work? April 14, 2021.

Former Secretary of Labor Robert Reich debunks the 3 big myths that trickle-down economics is based on.

[LetMyPeopleVote]

1. There is no tax cut fairy

[Warpy]

2. He forgot the biggest fallacy

"Economies work from the top down."

That's the problem with economic conservatives in a very small nutshell. All wealth is created by labor, either as producers of goods and services or as the demand side for those goods and services. Without labor, the rich are left sitting on whatever piles they've hoarded with absolutely no way to continue to play the numbers to get richer.

Without the rich, labor continues to produce and demand goods and services.

I think most people dimly realize this, which is why the Republicans have been bamboozling them with god, guns, gays, and scary black folks my whole adult life. The sickening part is how well that has worked.