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Trickle down economics is a lie, the proof !


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#1    Br Cornelius

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Posted 25 April 2014 - 07:04 AM

Quote

There are many reasons why French academic Thomas Piketty’s 685-page tome, “Capital in the 21st Century,” has vaulted to the top of the Amazon.com best seller list and is being discussed with equal fervor by the world’s top economic policy makers and middle class Americans who wonder why they haven’t gotten a raise in years. The main reason is that it proves, irrefutably and clearly, what we’ve all suspected for some time now—the rich ARE getting richer compared to everyone else, and their wealth isn’t trickling down. In fact, it’s trickling up.

http://time.com/7306...s-piketty-book/

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#2    whitelight

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Posted 25 April 2014 - 08:06 AM

Who reads Time?

Let me ask you something . . . have the poor faired better under Obama then they did in the 80s?


#3    Br Cornelius

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Posted 25 April 2014 - 08:16 AM

View Postwhitelight, on 25 April 2014 - 08:06 AM, said:

Who reads Time?

Let me ask you something . . . have the poor faired better under Obama then they did in the 80s?
This has nothing to do with time - it is an exhaustive study of the statistical economic facts carried out with data from 200 years of research.

Obama operates under exactly the same Neo-Liberal economic model which makes this situation inevitable, he just has slightly more discretion to redistribute. Let us not forget that Obama is still dealing with the fall out of a "Liberalized" economy from Regan through to Bush, but I am not going to defend Obama for not making fundamental reforms to a system which places you on a one way course to revolution - he is a product of the economic assumptions which created the mess in the first place.

When it comes down to it, trickle down economics was a lie used to cover the fact that the Neo_liberal economists were selling a system which served their self interest - not the interests of society. What I am asking you to consider is the evidence, presented in the book, that under the  Neo-Liberal economic model it is inevitable that the poor will get relatively poorer and the rich will get relatively richer. This is now a statistically proven fact.

Br Cornelius

Edited by Br Cornelius, 25 April 2014 - 08:20 AM.

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#4    Norbert Dentressangle

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Posted 25 April 2014 - 08:19 AM

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View Postwhitelight, on 25 April 2014 - 08:06 AM, said:

Who reads Time?

Let me ask you something . . . have the poor faired better under Obama then they did in the 80s?
What's Obama got to do with it, except of course being the scapegoat for everything? I think the point behind this kind of theories and studies is they take into account rather longer term trends than just the infleucne of individual presidents, ineffectual as they usually are.
Or is it just that the equation is something like "Don't believe in trickle down economics = Commie = Obam supporter"?
And if you don't read Time, does that mean that any stories they carry don't count?

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#5    lightly

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Posted 25 April 2014 - 11:20 AM

View Postwhitelight, on 25 April 2014 - 08:06 AM, said:

Who reads Time?

Let me ask you something . . . have the poor faired better under Obama then they did in the 80s?

No.  Of course not... both The poor and The middle class have been losing ground since about 1970  .. from my own observations.
i've also observed that Presidents, in my lifetime anyway,   are salesmen  of  policies  .. not creators.

I always imagined Bush Senior and his vice president Jelly Bean Reagan,  laughing their Arses off at the term "trickle down economics"   because they knew full well that  it meant P on "us" economics.

     and yes he did.   ... (before someone mentions Bush senior calling  Trickle down economics.."voodoo" economics)

Edited by lightly, 25 April 2014 - 11:24 AM.

Important:  The above may contain errors, inaccuracies, omissions, and other limitations.

#6    Mac E

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Posted 25 April 2014 - 12:09 PM

I think Whitelight's defintiely trolling.  One administration has nothing to do with the trend over time.  I think the question here is how can we reverse the trend?  I have my theories, but no one's going to like them.  Too many people are comfortable with the status quo.  And like Br hinted at, it might take a revolution to change things.

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#7    lightly

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Posted 25 April 2014 - 12:15 PM

View PostMac E, on 25 April 2014 - 12:09 PM, said:

I think Whitelight's defintiely trolling.  One administration has nothing to do with the trend over time.  I think the question here is how can we reverse the trend? I have my theories, but no one's going to like them.  Too many people are comfortable with the status quo.  And like Br hinted at, it might take a revolution to change things.

     Many might be interested to hear your  theories / ideas ?    I would anyway.

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#8    preacherman76

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Posted 25 April 2014 - 12:32 PM

We dont manufacture anything anymore. There is no incentive for a trickle down economy in America from the rich folks POV. Stop allowing imports for 90% of our goods, and things change overnight.

Some things are true, even if you dont believe them.

#9    Mac E

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Posted 25 April 2014 - 12:47 PM

View Postlightly, on 25 April 2014 - 12:15 PM, said:

Many might be interested to hear your  theories / ideas ? I would anyway.

To put it mildly, socialism of a sort.  Eventually we will all be competing for jobs with robots.  Ones that make us inefficient.  What's going to happen once that starts up?  There will have to be a complete overhaul of our global economic systems, as a whole lot of people won't be earning money...or perhaps humans will become the cheap labor force...or perhaps I've been reading too many sci-fi books.

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#10    Jeremiah65

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Posted 25 April 2014 - 01:08 PM

*snickers*

I always felt "Trickle down economics" was the super rich p!ssing on the heads of the poor and telling them it was raining...

I am making a funny over here....don't have a meltdown...

It's not a lie...it just doesn't work as it's supposed to...

Kinda like "free market capitalism"...beautifully perfect in theory...but when cronyism slips in...it doesn't work so well.

Edited by Jeremiah65, 25 April 2014 - 01:08 PM.

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#11    questionmark

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Posted 25 April 2014 - 01:20 PM

View Postpreacherman76, on 25 April 2014 - 12:32 PM, said:

We dont manufacture anything anymore. There is no incentive for a trickle down economy in America from the rich folks POV. Stop allowing imports for 90% of our goods, and things change overnight.

Trickle down, regardless if manufacturing or otherwise, implies that the majority earn more than they need and therefore can save some.

That has not been the case since the 70s.

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#12    libstaK

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Posted 25 April 2014 - 01:20 PM

For those folks who need to be reminded the Topic is Trickle Down Economics - if you want to compare current administrations to those of the past start a topic on it.

I would also like to remind some members that we have rules regarding flamebaiting, trolling and ad hom commentary about fellow members.

Back to the topic at hand all.

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#13    Jeremiah65

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Posted 25 April 2014 - 01:56 PM

View Postpreacherman76, on 25 April 2014 - 12:32 PM, said:

We dont manufacture anything anymore. There is no incentive for a trickle down economy in America from the rich folks POV. Stop allowing imports for 90% of our goods, and things change overnight.

It's not so much "allowing" 90% of our goods to be imported as it is a result of bad planning.

We did need to clean up pollution...so we made regulations that are expensive to implement.  We kept on adding expensive regulations and it became cheaper for companies to move production somewhere else.  It was a poorly thought out thing we did because the pollution is still going on just not directly over our country.  Then....came NAFTA and the rest is pretty much a sad history.

We "should" lay on some serious tariffs against the goods coming in from countries that have no EPA regulations or pay slave wages...but we don't...and the primary reason for that is because wealthy "globalists" like being able to sell cheap crap made in polluted countries with slave wage workers.  So they lobbied to keep that door open.

I'd love to open up a business that actually "made something".  But say....if I wanted to make hammers...the cost to make my hammer would be probably about the same as the sale price of a hammer made in Asia.  Not a good scenario.  Now I might make the best damn hammer in the world and some people will buy it purely for the quality...but most folks would say "it's just a d@mn hammer" and buy the cheapest one.

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#14    DeWitz

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Posted 25 April 2014 - 02:01 PM

Well said, Jeremiah. Although I agree with the findings of the study (and accompanying book) described by Br. C., the alleviation of this problem seems an overwhelming proposition. "Trickle-down economics" has always been a scam and a sham.  I wouldn't want to see a revolution in the US for fear of how it might affect my children and grandchildren, but it might be the only answer.

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#15    lightly

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Posted 25 April 2014 - 02:05 PM

if i understand the idea as it was sold...  trickle down is supposed to work for the benefit of all by allowing/facilitating growth at the "top"  in the belief that  this unbridled wealth would   trickle down in the form of investment in expansions/growth, in whatever, which would create jobs  HERE. ?

That hasn't happened.

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