If you’ve advocated for trickle down economics, well, you’ve be shown to be a fool.
A study from the Inequalities Institute at the London School of Economics leaves little doubt that if the rich get richer then everyone will benefit is a bunch of baloney.
Overall, our analysis finds strong evidence that cutting taxes on the rich increases income inequality but has no effect on growth or unemployment. … Our results are in line with those in Piketty et al. (2014), which suggest that lower taxes on the rich encourage high earners to bargain more forcefully to increase their own compensation, at the direct expense of those lower down the income distribution.
Put another way, the selfish will seek to be more selfish when given even more money. Shocking.
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