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A space for sharing and discussing news related to global current events, technology, and society.
69468 Members
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© 2020 Relevant Protocols Inc.
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Researchers at the London School of Economics and King’s College London conducted an analysis of 18 OECD countries’ tax policies over the past 50 years, finding that — wait for it — tax cuts for the rich breed inequality and do NOT trickle down. The paper concluded that tax cuts for the wealthy only benefited the wealthy, and didn’t have an effect on job growth or economic growth. Let me just repeat that: Tax cuts for the rich do not trickle down. They only benefit the rich while further widening inequality. Now, America’s billionaires have seen their collective wealth soar by $1 trillion during this pandemic, while the rest of the country barely scrapes by. Taxing the rich to pay for pandemic relief isn’t just the moral thing to do — it’s common sense. The cruel myth of trickle-down economics must be put to rest once and for all.
Researchers at the London School of Economics and King’s College London conducted an analysis of 18 OECD countries’ tax policies over the past 50 years, finding that — wait for it — tax cuts for the rich breed inequality and do NOT trickle down. The paper concluded that tax cuts for the wealthy only benefited the wealthy, and didn’t have an effect on job growth or economic growth. Let me just repeat that: Tax cuts for the rich do not trickle down. They only benefit the rich while further widening inequality. Now, America’s billionaires have seen their collective wealth soar by $1 trillion during this pandemic, while the rest of the country barely scrapes by. Taxing the rich to pay for pandemic relief isn’t just the moral thing to do — it’s common sense. The cruel myth of trickle-down economics must be put to rest once and for all.
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