Myth: Nearly a third of Americans still believe the discredited “trickle-down” theory that tax cuts for the wealthy results in greater wealth for everyone.
Fact: Even David Stockman, the chief architect of trickle-down and supply-side economics admits it didn’t work.
It’s pretty universal that no one likes taxes, and everyone loves a tax cut. But many have come to believe that taxes are higher than ever–even though they’re not. Most puzzling of all, many Americans believe that tax cuts for the wealthy spur both job creation and increased tax revenues through trickle-down and supply-side economics. Yet experiences in Iowa, Louisiana, Kansas, Wisconsin, and Oklahoma have all shown the failure of supply-side and “trickle-down” theory.
What do the facts say about trickle-down economics and its effect on the middle class? Can regulation help, or is it just a burden? And where do government programs fit in?
There’s no doubt that the economy played a huge role in the 2016 election. According to CNN, the U.S. has lost five million manufacturing jobs since 2000. During the campaign season, Donald Trump promised to bring those jobs back. When it came time for the election,...read more
The economic theory arguing for tax cuts for big business has largely been debunked. Nonetheless, we just saw the United States Congress pass one of the largest tax cut bills for the wealthy in United States history. How and why does this economic theory persist even...read more
On December 22, 2017, President Trump’s Tax Cuts and Jobs Act (TCJA) officially became law, marking a major victory for the GOP. But it’s not just Conservatives who are celebrating. After it became known that the majority of Americans would receive a tax cut, people...read more
Myth: Nearly a third of Americans still believe the discredited “trickle-down” theory that tax cuts for the wealthy results in greater wealth for everyone. Fact: Even David Stockman, the chief architect of trickle-down and supply-side economics admits it didn’t work....read more
Only 11% of Americans want communism and Obama is not one of them. Even if he was, most Americans would never allow it. If you ignore the part of Obama's Roanoke speech that the Right continually takes out of context and look at the whole speech, I can see how you...read more