More on Trickle-Down Economics
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 implemented wherever billionaires control the government. News flash: these people know goddamn well it doesn’t work for the good of the country; it works for them, and that’s all that matters.
Craig,
“trickle-down economics” has not failed. It remains the only form of economics which works over a long period.
Economic conditions and circumstances will never operate 100% predictably nor perfectly. There will always be highs and lows. Economic conditions are subject to a wide range of influences and mirror human nature and the conduct of human affairs.
The US tax cuts worked extremely well. The US economy was in deep decay and deteriorating. The tax cuts brought back investment, stimulus, employment and started the long process of wage growth among poor and blue collar Americans.
The desperate and hypocritical propaganda by failed liberal/left politicians to blame the World’s ills on “billionaires”, has failed to ignite class warfare among the working class in the Western World.
This has been especially true in America, where not only all the billionaires support the Democrats, but even have several billionaires vying to become Democrat presidential candidates!
In successive recent elections, populist candidates have triumphed against leftist political leaders who tried to play the “envy’ card and advocate class warfare.
Australia, UK and many other democracies have shown the electorate can see through the old lies and would rather elect leaders who create genuine wealth and prosperity, not just spend “other peoples money”.
As Margret Thatcher wisely pointed out. “the trouble with spending other peoples money, is sooner or later you run out of both money and people”.
The US Bureau of Statistics reports since the Tax cuts were implemented, the hourly rate of pay earned by the typical employee although sluggish at first, rose steadily pushing the increase in ‘real’ wages wages to a 10-year high of 5.4%.
Even better, inflation has slowed to a yearly rate of 1.6%.
More importantly, what is really driving wage growth is the amount of private capital investment the US based enterprises has created a lack of skilled labor.
This is the chief reason wages are finally rising at historic standards. Finding skilled workers is their top business challenge.
To address that problem they have been raising wages,but due to the policies of the Trump administration it’s no longer economic to simply ship the job to low paid countries or import skilled workers.
More and more, US employers are being forced to invest in up-skilling US workers by expanding training efforts, and improving working conditions. This has been especially true among blue collar female workers.
The unskilled unemployed US resident is becoming seen as a resource to be employed and taught skills as the the flood of cheap migrant skilled labour dies up.
As the parents become skilled workers, they encourage their children to stay in school, take up a trade, etc. Crime statistics begin to drop. the tax base in previously poor disadvantaged municipalities increases and more public services and infrastructure begins to flourish.
The welfare budget decreases allowing more funding for health, and other emergency services, including public transport.
This all is the result of “trickle down economics”. The concept only works when the government encourages the growth of wealth,(or increasing the size of the cake).
The opposite is to have a smaller cake, cut up more evenly ensures eventually, everyone gets only stale crumbs!
(Please stop embarrassing yourself by continuing to repeat the lie that real wages haven’t grown)