Lower taxes on the rich to help the poor is the kind of idea that sounds brilliant if you have not looked at a single piece of data since the nineteen eighties. We ran this experiment for decades. The results were not a mystery. The rich got richer, wages stayed flat, inequality exploded, and the only thing that reached working people was the lecture that they should be grateful for scraps.
Every reputable economic study has already buried trickle down economics with charts, evidence, and a shovel. The only thing still trickling is the excuse-making for why billionaires somehow need even more help before they finally decide to lift a finger for anyone else. If capital was going to magically save everyone, it would have done it by now. Instead, we just learned that giving wealthy people more money leads to wealthy people having more money.
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Peter Schiff
@PeterSchiff
If you want to help the poor, then lower taxes on the rich. What helps the poor is a productive economy that makes goods and services more abundant and less expensive, while creating employment opportunities. The capital investment that makes that possible comes from the rich.