Wealth Inequality in Modern Capitalism
Remember when Reagan (President from 1981 - 1989) talked about giving tax cuts to job creators in order to boost the economy. The idea was that giving the weathly people more money would motivate them to create more jobs and pay people more. People seemed to love the idea, and thus Trickle-Down Economics was born.
Now - we can look back at the data and see who was actually helped by these policies.
Immediatley after implementing these tax cuts for the rich - income inequality shot up - proving that giving the wealthy more money was just that - giving THEM more money.
Industry profits kept rising, corporate CEO wages and dividends kept rising, but regular household incomes stayed the same or went down.
So now, Donald Trump has a new tax plan that he boasts has the largest tax cuts for the wealthy ever - even more than Reagan or Bush...
piling the bulk of the tax income to come from middle class and lower middle class families - Trump has noted publicly on a few occasions that he doesn't pay taxes and he thinks this makes him "smart". so - now he laid out a plan for him and people like him to NOT pay much at all in taxes, while everyone else is paying taxes instead - this must make him a genius.
Is this really going to help our Country? or will this be Trickle-Down Economics on Steroids with the top 1% gaining all the benefit while the rest of us pay for it.