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The mindset behind trickle down economics in the US

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beneficii
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04 Aug 2019, 3:25 am

This video gives a hint to the mindset behind the popularity of trickle-down economics in the US, which is basically a scam. A lot of Americans believe the rich are simply better than poor people, and thus the rich should get a lot of say in the government while the poor should get much less. That's because they believe that "we need the rich" and would be lost without them.



(This video has subtitles for those who have a hard time listening to videos.)


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04 Aug 2019, 4:45 pm

I seem to remember a certain carpenter from two thousand years ago who gave us a very different picture of the rich and poor. Funny, people in the GOP who promote trickle down claim to be this particular carpenter's most pure hearted and ardent followers.


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04 Aug 2019, 6:18 pm

This is why I kinda wished someone could have watched or commented on the Mark Blyth videos I just posted. He took a hammer to all of this and went quite a few steps even beyond that.


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04 Aug 2019, 6:38 pm

This video is so bad.

let me knock down some of points made ...

Conservatives ….
a. want FREEDOM (from government)
b. believe in individualism / self-reliance.
c. don't trust liberals, because they see the unintentional damage liberals do.
d. believe that prosperity is not a zero-sum game; rather, everyone's standard of living can be raised.
e. likely believe liberals are naïve, because liberals don't appear to account for human behavior.
f. likely believe liberals are naïve, because liberals put their trust in government agents
g. (capitalists) know that prosperity comes from productivity (not a welfare state).
h. like lower taxes, less regulation, because it helps raise productivity (thus, raise prosperity).
i. likely want to keep the money they earn because, well, they earned it.


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LoveNotHate
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04 Aug 2019, 7:00 pm

techstepgenr8tion wrote:
This is why I kinda wished someone could have watched or commented on the Mark Blyth videos I just posted. He took a hammer to all of this and went quite a few steps even beyond that.

2.5 hours of video, I just started it. I will comment on that topic tonight.


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techstepgenr8tion
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04 Aug 2019, 7:29 pm

LoveNotHate wrote:
2.5 hours of video, I just started it. I will comment on that topic tonight.

TY.

Side note - I tried clicking on the OP video - sorry, couldn't get past the intro song.


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04 Aug 2019, 7:30 pm

I hate the term trickle down economics. Tax cuts that spur economic growth are good for all people rich and poor alike. Tax cuts that don't spur economic growth are not good for all people. It's really that simple. Supply side/trickle down economics means that cutting taxes on the rich sometimes spurs economic growth, and is sometimes good for all people.

The mindset of "tax the hell out of the rich" is based in envy rather than any kind of economics. Most wealth does not sit in bank vaults but instead is either spent or invested. Invested and spent wealth tends to be good for the economy.


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04 Aug 2019, 7:48 pm

Antrax wrote:
Most wealth does not sit in bank vaults but instead is either spent or invested. Invested and spent wealth tends to be good for the economy.


I am not certain that statement is accurate. I'm no expert, but I believe I read that a significant portion of the current state of economics is due to the wealthy sinking their money into investments that do not grow the economy.


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Antrax
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04 Aug 2019, 7:52 pm

blazingstar wrote:
Antrax wrote:
Most wealth does not sit in bank vaults but instead is either spent or invested. Invested and spent wealth tends to be good for the economy.


I am not certain that statement is accurate. I'm no expert, but I believe I read that a significant portion of the current state of economics is due to the wealthy sinking their money into investments that do not grow the economy.


Care to offer specifics on these "investments." All invested wealth needs to generate a rate of return based in economic productivity or government debt. Anything else is a pyramid scheme that eventually collapses.


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techstepgenr8tion
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04 Aug 2019, 7:55 pm

Looks like this guy nailed our current problem 5 years ago and has some interesting suggestions.


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04 Aug 2019, 8:10 pm

Antrax wrote:
I hate the term trickle down economics. Tax cuts that spur economic growth are good for all people rich and poor alike. Tax cuts that don't spur economic growth are not good for all people. It's really that simple. Supply side/trickle down economics means that cutting taxes on the rich sometimes spurs economic growth, and is sometimes good for all people.

The mindset of "tax the hell out of the rich" is based in envy rather than any kind of economics. Most wealth does not sit in bank vaults but instead is either spent or invested. Invested and spent wealth tends to be good for the economy.


Actually, most of those tax cuts do end up sitting in savings accounts. That's what happened to most of the tax cuts Trump handed out to the rich. Otherwise, why aren't more people being hired, and why aren't wages going up? Trust me, envy has nothing to do with it. Rather, it's a case of resentment that the wealthy and the corporations haven't upheld their end of the bargain.


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04 Aug 2019, 8:28 pm

Antrax wrote:
blazingstar wrote:
Antrax wrote:
Most wealth does not sit in bank vaults but instead is either spent or invested. Invested and spent wealth tends to be good for the economy.


I am not certain that statement is accurate. I'm no expert, but I believe I read that a significant portion of the current state of economics is due to the wealthy sinking their money into investments that do not grow the economy.


Care to offer specifics on these "investments." All invested wealth needs to generate a rate of return based in economic productivity or government debt. Anything else is a pyramid scheme that eventually collapses.


Investments in valuable art, jewelry are examples. The ROI is greatly deferred.


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beneficii
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04 Aug 2019, 8:55 pm

techstepgenr8tion wrote:
LoveNotHate wrote:
2.5 hours of video, I just started it. I will comment on that topic tonight.

TY.

Side note - I tried clicking on the OP video - sorry, couldn't get past the intro song.


Go to 0:15.


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beneficii
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04 Aug 2019, 9:04 pm

LoveNotHate wrote:
This video is so bad.

let me knock down some of points made ...

Conservatives ….
a. want FREEDOM (from government)
b. believe in individualism / self-reliance.
c. don't trust liberals, because they see the unintentional damage liberals do.
d. believe that prosperity is not a zero-sum game; rather, everyone's standard of living can be raised.
e. likely believe liberals are naïve, because liberals don't appear to account for human behavior.
f. likely believe liberals are naïve, because liberals put their trust in government agents
g. (capitalists) know that prosperity comes from productivity (not a welfare state).
h. like lower taxes, less regulation, because it helps raise productivity (thus, raise prosperity).
i. likely want to keep the money they earn because, well, they earned it.


Where do you knock down the points made? A lot of those points you bring up in support of conservatives, ARE mentioned in the OP video about what conservatives believe. At least a, b, e, f, g, h, and i are specifically discussed in the video. Depending on how you view it, the same goes for points c and d.

So it makes me wonder, did you even watch the video?


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LoveNotHate
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04 Aug 2019, 9:12 pm

beneficii wrote:
LoveNotHate wrote:
This video is so bad.

let me knock down some of points made ...

Conservatives ….
a. want FREEDOM (from government)
b. believe in individualism / self-reliance.
c. don't trust liberals, because they see the unintentional damage liberals do.
d. believe that prosperity is not a zero-sum game; rather, everyone's standard of living can be raised.
e. likely believe liberals are naïve, because liberals don't appear to account for human behavior.
f. likely believe liberals are naïve, because liberals put their trust in government agents
g. (capitalists) know that prosperity comes from productivity (not a welfare state).
h. like lower taxes, less regulation, because it helps raise productivity (thus, raise prosperity).
i. likely want to keep the money they earn because, well, they earned it.


Where do you knock down the points made? A lot of those points you bring up in support of conservatives, ARE mentioned in the OP video about what conservatives believe. At least a, b, e, f, g, h, and i are specifically discussed in the video.

So it makes me wonder, did you even watch the video?

The video never mentions any of them.

The video totally misrepresents (d) by repeatedly showing a triangle or toilet and stating that someone has to "be on the bottom". That's not representative of conservative thought.

The goofiness starts right away where someone wants free college, and a real conservative would tell the college kid, "I don't support free college, because I value 'freedom'". That would put the liberal in a tough position to explain why freedom should be sacrificed.

The entire video seems like someone who doesn't understand conservative thinking.

Strangely, the video didn't appear to even mention the word "freedom". What the heck?

It's common knowledge, conservatives = freedom = free trade = free markets = individual liberties = less government …..


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Last edited by LoveNotHate on 04 Aug 2019, 9:30 pm, edited 1 time in total.

beneficii
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04 Aug 2019, 9:30 pm

Anyway, LoveNotHate, let me put time stamps for each of your points.

a. want FREEDOM (from government) - 11:17
b. believe in individualism / self-reliance. - 9:35
c. don't trust liberals, because they see the unintentional damage liberals do. - 10:15
d. believe that prosperity is not a zero-sum game; rather, everyone's standard of living can be raised. - 13:15
e. likely believe liberals are naïve, because liberals don't appear to account for human behavior. - 12:04
f. likely believe liberals are naïve, because liberals put their trust in government agents - 11:32, 19:25
g. (capitalists) know that prosperity comes from productivity (not a welfare state). - 13:33
h. like lower taxes, less regulation, because it helps raise productivity (thus, raise prosperity). - 19:33
i. likely want to keep the money they earn because, well, they earned it. - 2:32


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