Conversation

Aella
@Aella_Girl
"trickle down theory" seems obviously correct to me. Like, if a person has lots of money, it's stupid to sit on it - they invest it, found businesses, hire people, buy things - all of which are putting money back into lower tiers of the economy to me. Am I missing something big?
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Daniel Zylberkan
@danzyl66
Replying to
@Aella_Girl
40 years of data says it's wrong. Corporations and billionaires haven't used the many they saved to employ more people but to improve productivity and actually not raise real wages
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Daniel Zylberkan
@danzyl66
Replying to
@Aella_Girl
It wasn't the billionaires it was the governments which started Neoliberal policies which gave the conditions for economic changes that have led to the weakening of unions, looser labor regulations, etc
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Will Rosecrans
@forkazoo
Replying to
@Aella_Girl
and
@danzyl66
They didn't get evil. But Reagan's "trickle down" plus union busting enabled an era of billionaire power in way that had been actively fought against in decades prior. So they suppressed wage growth, rather than letting it trickle down.
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