mercredi 24 mai 2017

The Trump Budget: Can we all agree that Trickle-Down Economics is stupid?

Trump has (in absentia) proposed

“A New Foundation for American Greatness"

A budget that would not only drastically cut support for the poor and sick, but also transfer massive amounts of wealth to the richest while at the same time reduce funding for the future by cutting research.

The budget assumes that cutting taxes for the wealthy will dramatically stimulate growth, thereby creating more revenue (see Laffer curve) and "raising all boats with the tide".

But from all empirical data and just plain common sense we know that this cannot work.

So is there anyone who thinks that this budget, if adopted, would do anything but cause serious damage to the US, both economically and socially?

via International Skeptics Forum

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