The supply-side myth debunked in two minutes.
Oh, this oughta be good.
Not!
♪
Supply side or trickle-down economics.
Well, make up your mind! Which one is it?
Actually, there's no such thing as trickle-down economics.
You won't find it mentioned in any textbook from any school of economics.
It was a term coined by Will Rogers to refer to the Depression-era policies of FDR.
In other words, what
Taking money from people in taxes under the impression the government can spend it better,
and the benefits will trickle down to the people.
Didn't take you economic ignoramuses long to co-op
Love them, hate them, tolerate them,
regardless of personal feelings, taxes make the world go round.
Yeah, this is the level of idiocy we're dealing with here.
And the US economy go round.
Then why do economies do worse when taxes are higher?
And how do you explain why revenues are a consistent percentage of GDP
once the tax rate gets above 10% or so?
I have a video from several years ago showing this. Link is in the description.
This is how long this crap has been debunked. These leftists are
But there's a camp of lawmakers who minimize the importance of government
and the role of taxes in effective governance.
Yeah, sensible ones. Unfortunately they can't seem to get elected.
These lawmakers, backed by wealthy special interests.
Then why do these "wealthy special interests" keep donating
largely to progressive candidates like Hillary Clinton?
How come basically none of them donate to libertarians?
Insist that supply-side economics
Ugh, that's not what it is.
Is it really so much to ask these wunderkinds to actually look up the concept they're bleating on about?
Keynesian economics is demand-side. You stimulate the economy by boosting aggregate demand,
generally through government spending. Libertarians are against this.
Supply-side economics is when you do the same thing on the supply side:
have the government give investment money to companies like in Obama's so-called stimulus package.
Libertarians are against this, too.
Tax cuts, especially for the rich, are the golden ticket to broad prosperity.
♪ Mr. Strawman ♪
♪ Give me a break ♪
This erroneous ideological policy theory is rooted in the unproven assumption
that lowering taxes for the rich causes them to work harder and invest more,
thereby creating jobs and boosting the economy.
That isn't even
The less of them there are, the more money people have to spend on things that they actually want,
or invest the way that they see fit.
You
At the absolute very best, taxes would make no difference since they would be spent just as efficiently as people do.
But they never do. There's amazing waste because no one in power has the economic incentive to make the best use of it,
because if they need more, they can just raise taxes or increase the deficit.
Their marginal utility of a dollar is much less than it is with members of the public.
Not only that, but government is doing completely the wrong things with this,
as we saw in the years leading up to the housing crisis.
They
so they mandated lower interest rates for risky or lower-income borrowers.
Keynesian politicians hate savings because they see it as hoarding.
So they tax people solely so the money can be spent,
when that money would be better off
So we have less investment, and therefore less economic growth.
Also,
which we can see from the
The CBO has repeatedly discovered that the effective tax rate,
that is, the
after
Supply-siders even claim that cutting taxes for the rich will allow governments to collect
Yeah, it's called the Laffer Curve, so what's your debunking of it?
- Turns out that... - Guess you don't have one.
Okay, thought experiment. If the tax rate is 0% of income, what are revenues? They're zero, right?
Now what if it's 100%? It'll be zero as well, because no one will work.
They'll volunteer, or more likely work under the table so they don't pay any taxes.
So if it's zero at 0%, and zero at 100%, what happens in the middle?
There are only two possibilities: Either it's zero at
or it goes up for a certain amount, but then you get diminishing returns, and it goes right back down again.
Remember when I pointed out how taxes are a fairly constant percentage of GDP above a certain rate?
Why do you think that would be? It can only be because if you raise the tax rate,
you inhibit the economy, and GDP goes down.
Likewise, if you cut taxes, you stimulate the economy, GDP goes up, and so do revenues.
There
There's no other way mathematically that the statistics work.
Giving tax cuts to people who are already wealthy just makes the rich richer.
Yeah, got any proof?
Not to mention, contributing to growing income inequality.
Then maybe you can explain why income inequality goes
No, don't even try. You're shoveling it and you know it.
Take, for example, President George W. Bush's tax cuts.
I covered these so-called "tax cuts" ten years ago, so I'll just put the link to that video in the description.
Again, they're lying, and they
Supply-side adherents and their political allies have either forgotten or simply don't care
about the reason we all pay taxes: to fund services that matter hugely to the economy and to all of us.
Really? And what percentage of the budget actually goes to those things?
Not anywhere near as much as you want people to believe!
And two of them, jobs and access to healthcare,
I've already covered it with jobs. For healthcare, see my video
It only results in healthcare shortages.
And as for education, if you really believe that drivel,
then why are you so vociferously opposing school choice initiatives?
That's the action of a monopolist who can't stand the competition,
not someone who wants the public to have the best choices.
Fun fact: We could completely eliminate the personal income tax, replace it with nothing,
and
They call themselves "Citizens for Tax Justice." I call it another example of Killian's Law.
It's time to be real. Trickle-down economic policies don't work. Taxes aren't a bad thing.
The nation's lawmakers should stop pursuing failed supply-side trickle-down experiments.
Instead, they should pursue sensible tax policies that recognize the economically-vital role
that taxes have in funding the services on which we all rely.
Notice how much economic data he's cited for support for this:
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