How often have tax cuts for the rich trickled down? Never.

[themickey]

Could it be just an illusion?

Last I checked, Bezos still lived in the same house, owned the same number of AMZN shares, driven in the same car and flew on the same GulfStream.

OK AMZN stock price had double during the period but had the AMZN real worth doubled as measured by the goods it produced/sold?

In looking at wealth and wealth equality, I like to look at both relative and absolute: In relative term, are the wealth inequality more now than back in colonial time, are the poor better off than in colonial time in the US. I think the answers to the first is no and the second is yes.

Ya, the poor have more choices in entertainment now, better informed when placing a bet and better support from gummint when screwed out of wedlock.
Their guns more accurate, cars go faster, play boom boom music louder.
But it's the betting which has helped the most, wider variety of choices, easily available, gummint use the taxes to help the poor.

 

[ironchef]

Ya, the poor have more choices in entertainment now, better informed when placing a bet and better support from gummint when screwed out of wedlock.
Their guns more accurate, cars go faster, play boom boom music louder.
But it's the betting which has helped the most, wider variety of choices, easily available, gummint use the taxes to help the poor.

I was a little tongue in cheek. I guess you are too.

 

[KINGOFSHORTS]

Whats funny is Velocity of money is dragging lower and lower. Amazing to see how low it is compared to historical levels yet money supply at record highs.

What I think the reason is.

#1 Billionaires already have everything they want and not have a need to spend more money so they park it in cash, speculative assets like Bitcoin, stock and derivatives, Jackson Pollocks. you can only buy so many yachts.

#2 Any dollar spent by a regular Joe Six pack gets funneled to Asia not to local factories and businesses. So Asia just parks it in Treasuries etc.

So what's happening the 1-5%ers reap the majority of the rewards from the Gig economy workers, etc.. making a few bucks a day and fight to stave off Scurvy etc.

Tons of cash generation from Bailouts to the 1-5% also does not trickle down it just gets put back into shit like Bitcoin for example.

The US has a dead economy little money moving between hands compared to 1950 where things like Walmart and Amazon did not exist and factories were in the US etc.

I see Velocity of money plunging further as Small business continues to be decimated and be replaced by megacorps (ie Walmart etc..) So the guy who had his grocery store and was able to make enough money to live a good life, maybe pay the employees better ends up being a greeter for Walmart.