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originally posted by: neo96
Trickle down economics does little to benefit the people. You're an idiot for believing it does
Obviously robbing from the rich and giving to the poor DOES NOT WORK.
Trickle down people.
Obviously robbing from the rich
You've gotta spend money to make money-which is why the big companies outsource to avoid minimum wage laws because they want to keep their wallets fat and screw the plebs and their concerns.
I applaud Trump for trying to coerce corporations to hire locally,
Poverty keeps rising and more jobs are being moved overseas, trickle down effect my ass.
And 1989 was a point of acceleration for the financialization of the economy, which brings me to the point: this economy is a hoarding economy, not a productive economy. Hoarding is rewarded over production. Inflating stock prices with buy-backs is rewarded. Inflated valuations and speculation are rewarded. Exotic financial devices that repackage and sell debt are rewarded. Cutting the cost of labor is rewarded. And the people at the top are rewarded for stoking stock prices, no matter the P/E ratio. And shorting your own bad decisions is rewarded … and your simple greed is bailed-out if your bottom line was big enough.
That’s because this economy is a rigged game rooted in speculation and salesmanship and vaporware. Trump touts the $5 trillion of wealth “created” in the stock market … but it’s all just paper … or, actually, just data stored on computers. IF it becomes tangible wealth because the holders of the data decide to cash out and take some profits, that’s going to be enjoyed by the top 10% of Americans who hold 80% of the stock market.
If the Republican tax cut comes through you can expect some profit-taking. The market has been rising on speculation of a tax cut, after all. Why not visit Wall Street’s magical ATM machine? And just like the previous two tax cuts (Reagan/BushII), this will put money in the hands of the people at the top who’ve shown since 1981 that they have no inclination to share their wealth with “the workers” in the form of raises, in spite of their own meteoric compensation.
Why would they hand out higher wages now … particularly with a whole new robotic workforce on the horizon? Why not hoard the wealth and take advantage of the initial cut to, and the eventual end of, the estate tax, which already only applies to multimillionaires and – through its elimination – will allow wealth to be passed on from one generation of plutocrats to the next? So, why not cement your own family’s elite position before the next shock? And why give raises to people who’ve become grateful to just have a job … or two jobs, as the case may be?
No, like the Reagan and Bush tax cuts, this Congressionally-sanctioned hoarding will be the predictable prelude to another leg in America’s perpetual boom-and-bust cycle … which eventually will lead to another call for tax cuts to advance the hoarding process at the top even more. That is, if there is anything left.
originally posted by: Thecakeisalie
a reply to: Southern Guardian
Look at the dickensian workshops in Bangladesh-a pair of sneakers sells for sixty bucks in Manhattan-but to the people who made them earn sixty bucks a month!
I applaud Trump for trying to coerce corporations to hire locally, but they wont comply because even with all those tax avoidance measures they still won't part with 'my precious' AKA money.