• AndrasKrigare@beehaw.org
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    1 year ago

    Weekly reminder that “trickle down economics” was always meant as a criticism. Coined by Will Rogers

    This election was lost four and six years ago, not this year. They [Republicans] didn’t start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickles down. Put it uphill and let it go and it will reach the driest little spot. But he didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow’s hands. They saved the big banks, but the little ones went up the flue.

    https://en.m.wikipedia.org/wiki/Trickle-down_economics#:~:text=Trickle-down economics is a,critics of supply-side economics.

  • warlaan@lemm.ee
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    1 year ago

    Of course trickle down works. I just don’t get how people came to believe that the rich people (i.e. the place with all the money/water) is the top of the mountain and the poor people were the ocean.

    There are so many reasons why money constantly trickles from the poor all the way down to the rich.