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Trickle Down Economics

So has your personal income increased in anyway over the last few months in a way that could be attributed to Trump's Tax Cuts? If so, please share what and how.

This isn't an opinion question. I am asking for facts.

Crimson67 8 Feb 8
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22 comments

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11

The concept of "trickle-down" economics has never worked. Like EVER.
I just watched a documentary about the 'Gilded Age', and the presidential campaign between William McKinley, a republican, and William Jennings Bryan, a democrat, in 1896. McKinley was supported by the "Robber Barons" of the age, such as Andrew Carnegie and JP Morgan. He promoted the concept of trickle-down economics as being good for the country. Bryan promoted the rights of workers, both rural and industrial. He supported fair wages for all. McKinley won, having outspent Bryan by 5-1.
Reagan supported the concept in the 80s. It didn't work then, either.
And now we have it again with 45.
I will never understand how people can keep voting against their own best interests.
Why is it so much easier for them to believe lies instead of the truth?

5

It doesn't do anything for retired people on social security and drawing a pension.... that so sucks!

4

Not that I know of, but it didn't work under Reagan either. Perhaps there's something wrong with the theory?

And here is a bonus on what money really is:

4

No but my pay is variable so if it did, I wouldn't notice as my net pay is always different.

Even if you have a steady paycheck, just because your take home changes, it won't necessarily make a difference overall for the year. You'd have to wait until your taxes were done for 2018 and you could compare to 2017 as the standard deduction changed and itemization is different.

And trickle down doesn't work.

4

no.
trickle down economics is the biggest ruse the oligarchy has ever bought from Congress.

2

Nothing for me. I heard Paul Ryan's secretary was getting $1.50 more a week. I guess if you add a $1.50 of your own money to that, you could get a piece of the pie.

jeffy Level 7 Feb 8, 2018
2

The tax cuts never reach the street. Will stay in the pockets of a few.

Gert Level 7 Feb 8, 2018
2

What's more likely to result in spending? Giving to hyper rich people, who basically hoard money, or to ordinary working people who form the bulk of consumers in society?

Trickle-down is just an excuse to siphon more tax-payers money to the filthy rich who pay less tax that your average wage slave.

1

I don't get enough to pay taxes , but I did get a $20 raise on my S.S.D.I. monthly this year . I was surprised we got anything !

Dougy Level 7 Feb 8, 2018
1

Something I heard during the Reagan years: "Trickle-down economics is just another way of saying you're getting pissed on."

1

My income seems to be on the trend of trickling down to nothing, ha ha!

1

No. Our personal income has not increased at all, but expenses have.

1

I think I figured I will take home about $70 more a month.

1

My pay check went up for the January pay period. Federal tax withholding was down. We will see how it plays out next April....

1

Just having done my taxes, even though I only made a few hundred more last year, it all went to being put in a higher bracket, best guess, and paying more in taxes from the year before. Almost to the exact amount. On another note. When Obama joke care went into effect, my employer canceled our help with healthcare that same year. Along with a 400% increase of covering my own healthcare for the first year, a bit more the 2nd, I then went to Mary's company healthcare. Saving us around 250 a month. This year however our employer has reinstated our healthcare program with the claims they have been able to make money. It cost a hell of a lot of peoples jobs nationwide and doubling of work on people still in the company. Go figure! Right? Unless the scrap industry takes a major hit this year I might come out ahead after a tough 3 years. With the current China situation being up in the air I'm not holding my breath! With that all said. I don't believe Trumps tax laws really effect this years income or taxes. Isn't 2018 the year of the new great giveaway to the wealthy? In which we will all be getting those wonderful raises and benefits so loudly taunted from the GOP who love us all so much.

0

Trickle Down Economics works this way. Image it’s Halloween. When the first Trick or Treater comes to your door and you give him (or her) all the candy and tell him to pass it out to their friends.

What do you think they will do??

I can't claim this one I got it off of Facebook

0

No only billionaires and bribed workers are benefitting. ...25 million green jobs are needed and not here yet

0

...don't work.

The trickle down-effect

The "trickle down-effect" is a fallacious justification narrative with an inexplicably long shelf-life. In the 1970s and early '80s neoliberal politicians came to power and began a massive transference of wealth to the wealthy establishment elite. Their justification for this kind of policy was that wealth would then trickle down to wider society. There is an overwhelming amount of evidence that this effect never happened. A large proportion of the wealthy establishment simply paid tax lawyers to hide their wealth in tax havens, and the gap between rich and poor has grown wider and wider ever since, especially in the UK and the USA.

Even though the trickle down effect has been shown to be an absolute fantasy, the same policy still exists today, just with a slightly altered form of justification narrative. These days Republican politicians harp on about "job creators" instead. The narrative is that it is important to cut taxes on wealthy "job creators" in order to allow them to create jobs and stimulate the economy. This "job creator" narrative defends exactly the same policy, and it is equally inaccurate. The Bush tax cut for the richest 1% of Americans turned out to have one of the lowest fiscal multiplication values in the history of American spending plans (for every $1 given in Bush tax breaks, only 23 cents returned to the economy). The American venture capitalist Nick Hanauer clearly expressed the economic illiteracy of the trickle down/job creator narrative:
"There's this idea in our society that rich people are job creators, and if you tax them more, then they'll create less jobs. This is simply a misunderstanding of how the economy works; it's actually the middle class that creates the jobs with the demand that forces businesses to increase employment."

Credit to Another Angry Voice, Blogspot. [anotherangryvoice.blogspot.co.uk]

0

Yes. I get gain sharing where I work. The profits of the corporation are "trickled down" in a dollar amount of $100 every month. Also...I have a 100% 401k that "trickles down". I would not have the gain sharing without the repatriation of corporate international holdings.

0

My company reaquired a rather large contract recently. I should be seeing growth from it soon. With out the tax cuts the company that mine contracts to would have folded.

0

My net increased by what will amount to ~$2000 for the upcoming year. It is a combination of factors that work both ways -- reduced pre-tax deduction, plus reduced tax withholding. Had my pre-tax deduction remained the same there would be even less tax withholding.

Part of the money is used to ease the household budget, part of the money is donated to [jdrf.org].

0

I have no idea when I believe the tax cuts would not take effect until we do are 2018 tax year. I believe this year there will be no change in our 2017 tax year.

dc65 Level 7 Feb 8, 2018
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