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"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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Trickle down economic theory was a huge departure from the popular economic models of the 1930’s to 1970’s. Since it’s adoption homelessness has risen, the middle class has shrunk, and the Waltons went from being worth 2.2 billion to 136 billion. Doesn’t seem correct to me 😂

Aella

@Aella_Girl

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@BrianJustJudge

maybe we're reading different sources; from what i've been reading we recently crossed over 50% of the world's population into the middle class and poverty has been declining hugely.

9:22 AM · Dec 29, 2019

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Most wealthy industrialized countries use a progressive taxation model more closely resembling the US tax model under FDR, Eisenhower, etc. so I wouldn’t doubt that global middle class strength is growing. That is not the case in the US though. taxprof.typepad.com/.a/6a00d8341c4

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Around 1982 the top marginal tax rates were cut from 70% on income above 215,000 to 50% and then to 28%. The effect was the ultra rich became much richer and the government increased its budget deficit and, to remedy, cut programs and shifted the tax burden onto the middle class.

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files.taxfoundation.org/legacy/docs/fe