Simon Beech

  • commented on Trickle-Down Economics: Four Reasons Why It Just Doesn't Work 2016-10-17 12:41:22 -0400
    And do you know who invented term “supply-side economics”? Jude Thaddeus Wanniski,, a journalist, friend of Louis Farrakhan and adviser to Reagan, he was there when Arthur Laffer drew his famous curve. Reagan and the others must have been laughing like hyenas knowing that they would be able to fool people into believing in trickle-down. However many times you prove it wrong, people will still believe this rubbish.

    That’s why the world’s in the state it’s in, corporate brainwashing for decades. The golden period of capitalism was in the deacdes after WW2 when governments around the world spent on infrastructure to rebuild and created social safety nets and health care systems to support ordinary people who had lost those who had sacrificed their lives for their country. That resulted in a period of extraordinary growth through Keynesian economics and high taxation on companies and the rich. The more those taxes have been reduced the more the state has to be reduced and the more money is concentrated into fewer hands. It’s not complicated at all.

    Wealth redistribution is an essential check on capitalism, the market doesn’t adjust itself, it needs constant intervention. To say otherwise is just propaganda. Companies need constant welfare from the state or else why do you think they spend so much on spreading their message, buying politicians, etc. Because it’s not a natural state of affairs, it needs constant interference and people’s minds to sustain it.


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