What? Really? I Haven't Been Trickled On?

Why am I Soaked?

Photo by Aditya Vyas on Unsplash

For too long, the wealthy elite have sold us the fairy tale of “trickle-down economics” — the idea that cutting taxes for the rich would magically sprinkle prosperity on the rest of us. But a recent study from the London School of Economics lays bare the truth: this theory is nothing but a scam that has enriched the already wealthy while leaving working-class families in the dust.

Looking back over 50 years and 18 developed countries, researchers found that tax cuts for the rich didn’t boost jobs or incomes for the average worker. Instead, the incomes of the wealthy soared, while the rest of us saw little to no improvement. The study shows that, contrary to popular belief, the economy thrived during periods with higher taxes on the rich. In fact, the post-World War II era, marked by higher tax rates, was a time of unprecedented growth and low unemployment.