Want to see a crystal-clear picture of who has been helped the most by decades of trickle-down economics, who has gone nowhere and who has actually gone slightly downhill? Well, here you go:
Everyone has gone essentially nowhere, except the top 10%.
Clear proof that throughout the years of trickle-down economics (primarily created by huge reductions in capital-gains taxes — capital gains being where the rich make their money) nothing has trickled down. Everyone has gone nowhere or even down, except the rich.
Interestingly, no one went anywhere in accumulated wealth as a result of the Trump Tax Cuts, which became effective at the start of 2018, not even the rich. Yet, the nation did go deeper in debt due to the combination of tax cuts and increased government spending. So, how is anyone better off?
This graph also demonstrates the fact that years of Fed money printing after the Great Recession also helped no one … except the very rich, who quickly scrambled back out of the hole. That, of course, was because all Fed firepower was poured directly into bonds and then stocks — capital assets. So, the explosive fuel went into capital assets at the same time the taxes on their gains remained down.
Read the rest here: https://thegreatrecession.info/blog/proof-that-trickle-down-never-even-dribbled-down/
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