Quote:
Originally Posted by BoLevi
The US has an enormous amount of economic potential that is not unlocked. It is being hindered by bad fiscal policy, growing public spending, too much regulation.
The concept that unlocking the potential of an economy is "trickle down economics" is absurd. The very term implies someone has a too simplistic view of the economy and how humans create wealth. In a free market, people get rich as a consequence of economic wealth production. The notion that free markets are attempting to hand capital to the rich which then they will hand out in a miserly fashion is nonsense. It shows a fundamentally unsound view of the complexity of an economy. They aren't built in hierarchies, despite the inequal distribution of wealth. They are more like flat networks, with some parts of that network accumulating more capital. This is incompatible with the notion of "trickle down". There is no trickle because there is no down. It's nonsense.
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I’m bored and stuck at the airport waiting for a flight. What do you think supply side economics and tax cuts/tax loopholes do. They cut taxes on the rich and allow them to hoard more wealth. Hilarious that you think trickle down economics criticisms are based around the wealthy literally sending wealth down to appease the masses. You should probably learn a bit more before spouting off about people not understanding the complexities of an economy.
People get rich for a whole bunch of reasons, some of them are pure entrepreneurial pursuits but a lot of it is network effects and family wealth. Supply side economics amplify that effect and we see it increasing wealth inequality and lower social mobility.
I think you read Ayn Rand and now that defines your entire worldview