The general notion of trickle down economics seems to be that if you take care of the rich people, the rich people will take care of the poor people.
I have a bridge for sale, cheap.
When has this EVER happened? In the last couple decades, we’ve seen the top 1% of incomes explode upwards. And what has happened to that wealth? Has it trickled down? Are you feeling rich? I doubt it. Median income (that’s the income that half the people have more than) has gone nowhere. Because wealth doesn’t trickle down.
Where do all those multimillionaires and billionaires get their money? Well, a lot of them are businessmen and women. How do they make money? They make money when people buy things. Now, it’s true that SOME of what they sell is only to other reach people. Yachts and stuff like that. But mostly, they sell to us – the regular people.
Every time you buy a light bulb or a tube of toothpaste or whatever, a little of that cost is profit for the corporation. And companies that make big profits tend to give their executives big salaries. I’ve got no problem with that, by and large, but the notion that that will benefit you and me – that it will somehow trickle down – is nonsense. Wealth trickles up. Everyone needs light bulbs. Let’s say (just at a guess) that the average person buys one a month, and that 1 cent is profit. That’s 300 million light bulbs a month. That’s $3 million in profit.
That’s wealth, trickling up.
The only stuff that trickles DOWN is the stuff the people on top don’t want. As the Yiddish saying has it:
If hard work was so wonderful, the rich would keep it all to themselves
So, some jobs trickle down. I don’t see any rich people digging latrines or collecting garbage, for instance. There aren’t any digging in mines. Those are good, honest jobs. But they aren’t very pleasant and they can be dangerous. Some rich people work long hours – but they tend to do it in comfortable offices.
Trickle down economics is a crock of *** that the Republicans sold us, and it’s ruining America and impoverishing you and me.