Quote:
Originally Posted by DownInFlames
No, but tax cuts for those primarily benefiting from rising stocks were supposed to. They would spend the money they saved but that mostly went back into the pockets of the rich, or they would buy back more of their company's stocks, benefiting no one but themselves, and other stockholders.
That's why it's all bull####.
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Whether the money is spent hiring more workers, or it's spent on stock buybacks, the money is still re-entering the economy.
The reason it's bull#### is because it's inflationary, and government spending needs to be cut back to make up for the revenue loss, or government debt keeps growing and causing further inflation.
So the poor and middle class get hit with a double whammy: higher cost of living hitting them on one side, cuts to programs hitting them on the other.
Seriously, #### trickle-down ecofraudics. One of the worst and most damaging ideas of all time.