Does Trickle-Down Economics Actually Work?

Trickle down does not work. A big reason why is because of the propensity to spend. If you have $100MM and get another $50MM, chances are you will save most of it. If you have $100 in your bank account and get another $50, chances are you will spend it. Money has greater velocity when it is spread more evenly, which ends up being better for everyone (rich person makes more via capital gains, poor person improves quality of life).
 
SunTrader said:
Is he on food stamps? He's in the 1% himself, yet he frames statement as "me and you".

Which allows wingnuts (the ones on the right, not the ones on the left) to classify what he says as, nothing but class warfare.
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Food stamps? How did that enter the conversation?

https://www.usatoday.com/story/mone...make-to-be-in-the-1-in-every-state/112002276/

https://www.celebritynetworth.com/richest-politicians/democrats/robert-reich-net-worth/

He's comfortable, but he's not rich.
 
Frederick Foresight said:
Food stamps? How did that enter the conversation?


He's comfortable, but he's not rich.
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I didn't use a vague word like "rich". I said in the 1%, should have said top 1% to make it even more obvious. Anyway see below:-

"The US has the highest number of ultra-high net worth individuals. You need $4.4 million in the US to be in the richest 1%, according to the 2021 Knight Frank Wealth Report. Monaco had the highest barrier to entry, requiring $7.9 million to crack into the 1%."
 
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