Study: Tax Cuts for wealthy fuel inequality, don't produce jobs or growth

sans_pants

I don't want any damn vegetables
OT Supporter
May 2, 2002
125,038

Tax cuts for rich people breed inequality without providing much of a boon to anyone else, according to a study of the advanced world that could add to the case for the wealthy to bear more of the cost of the coronavirus pandemic.

The paper, by David Hope of the London School of Economics and Julian Limberg of King’s College London, found that such measures over the last 50 years only really benefited the individuals who were directly affected, and did little to promote jobs or growth.

Their findings published Wednesday counter arguments, often made in the U.S., that policies which appear to disproportionately aid richer individuals eventually feed through to the rest of the economy. The timespan of the paper ends in 2015, but Hope says such an analysis would also apply to President Donald Trump’s tax cut enacted in 2017.

“Our research suggests such policies don’t deliver the sort of trickle-down effects that proponents have claimed,” Hope said.

no shit
 

Evan

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May 3, 2002
72,720
Portland OR
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melroy

wonderin how many people ITT have been meditating
Apr 1, 2018
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no im sorry i was told you were wrong
 
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veggie quesadilla

🌮: 5, 12, 19, 26
OT Supporter
Aug 6, 2010
16,559
Wrong.

Working class Americans who are down on their luck need help.

The best way to give them that help is to give them money.

And the best way to give them money is to give money to big corporations and the wealthy so that the wealthy can give some of that money to the poors.

QED.
 

The Great Deceiver

21st Century Schizoid Man
May 27, 2006
65,376
Warren tax plan :bowdown:

  • Zero additional tax on any household with a net worth of less than $50 million (99.9% of American households)
  • 2% annual tax on household net worth between $50 million and $1 billion
  • 4% annual Billionaire Surtax (6% tax overall) on household net worth above $1 billion
  • 10-Year revenue total of $3.75 trillion
 

Soren

OT Supporter
Oct 9, 2002
36,738
Warren tax plan :bowdown:

  • Zero additional tax on any household with a net worth of less than $50 million (99.9% of American households)
  • 2% annual tax on household net worth between $50 million and $1 billion
  • 4% annual Billionaire Surtax (6% tax overall) on household net worth above $1 billion
  • 10-Year revenue total of $3.75 trillion

Bottom 99.9% will vote against this because they were told by GOP representing top 0.01% that it would be bad for jobs.
 

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