• PoliticalAgitator@lemm.eeEnglish
      292·
      1 year ago

      Not really. Neoliberals don’t push neoliberalism because they think it works, they push it because they get rich off its failure.

      • dbilitated@aussie.zoneEnglish
        11·
        1 year ago

        oh for sure, it’s just helpful if they’re making a bad faith argument that it does work. it gives you some authority when you call them a fucking liar.

    • Echo Dot@feddit.ukEnglish
      4·
      1 year ago

      Yes it’s always helpful to have evidence.

      If the governments around the world were advocating for stabbing yourself in the eye with a rusty fork, it would be useful to have evidence that stabbing yourself in the eye with a thrusty fork it’s not in fact beneficial. Yes it’s obvious that it’s bad to anyone with a brain, but they’ll argue the point unless there’s some irrefutable evidence.

  • tswiftchair@lemmy.worldEnglish
    20·
    1 year ago

    Full source article text since it’s behind paywall:

    Fifty Years of Tax Cuts for Rich Didn’t Trickle Down, Study Says

    • Paper looks at fiscal policies in 18 countries over 50 years
    • Governments shouldn’t worry about taxes on rich, author says

    By Craig Stirling

    December 15, 2020 at 6:01 PM CST

    Tax cuts for rich people breed inequality without providing much of a boon to anyone else, according to a study of the advanced world that could add to the case for the wealthy to bear more of the cost of the coronavirus pandemic.

    The paper, by David Hope of the London School of Economics and Julian Limberg of King’s College London, found that such measures over the last 50 years only really benefited the individuals who were directly affected, and did little to promote jobs or growth.

    “Policy makers shouldn’t worry that raising taxes on the rich to fund the financial costs of the pandemic will harm their economies,” Hope said in an interview.

    That will be comforting news to U.K. Chancellor of the Exchequer Rishi Sunak, whose hopes of repairing the country’s virus-battered public finances may rest on his ability to increase taxes, possibly on capital gains – a levy that might disproportionately impact higher-earning individuals.

    U.K. Urged to Levy $350 Billion Wealth Tax to Fund Pandemic

    It would also suggest the economy could weather a one-off 5% tax on wealth suggested for Britain last week by the Wealth Tax Commission, which would affect about 8 million residents.

    The authors applied an analysis amalgamating a range of levies on income, capital and assets in 18 OECD countries, including the U.S. and U.K., over the past half century.

    Their findings published Wednesday counter arguments, often made in the U.S., that policies which appear to disproportionately aid richer individuals eventually feed through to the rest of the economy. The timespan of the paper ends in 2015, but Hope says such an analysis would also apply to President Donald Trump’s tax cut enacted in 2017.

    “Our research suggests such policies don’t deliver the sort of trickle-down effects that proponents have claimed,” Hope said.

  • words_number@programming.devEnglish
    8·
    1 year ago

    I am shocked!!

    Trickle down effect is a complete hoax and always has been?! :-O

    How did they manage to find out this secret? The CIA must have been involved in the research. I bet at some point they might even find out that the sky is blue! What a time to he alive!

  • Decompose@programming.devEnglish
    11·
    1 year ago

    Here’s an idea: stop allowing central banks to print money and hand it to the rich for free.

    If you’re happy giving the rich free freshly printed money that screws you with the Cantillon effect, don’t complain about tax cuts. That’s a drop in the bucket.