11-16-2014 09:18 PM
Re: Trickle down economics
is nothing more than a cruel fraud, says Robert Reich, and he's right! Will the GOP ever come to their senses?? I doubt it!
While we’re on the subject of trickle-down economics, I want to give you some more data because Republicans are saying they intend further cuts in taxes on capital gains and dividends. Remember George W. Bush predicting his tax cuts on capital gains and dividends would usher in an “ownership society”? The opposite happened. In 2000, one of every eight taxpayers had capital gains income. In 2012, i...t was one in fifteen. In 2000, Americans making over $2 million a year got 18 percent of the nation’s dividends; by 2012, they collected 38 percent – and their average annual dividends went from $246,000 to $1,169,600.
Trickle-down economics is a cruel fraud. It’s cruel because it hurts the middle class and poor who lose services or have to pay more taxes to make up for what the rich don’t pay. It’s a fraud because nothing trickles down.
He needs to post proof to back his numbers.