This is the only voice I hear that gets at the actual issue facing our politics and economy.

  • grooving@lemmy.studio
    2·
    2 months ago

    I’ve been enjoying his stuff, but tbh I haven’t been researching the other side and I’ve just been taking his thoughts as supposed truth (im not saying it’s not, I’m just saying the way I’m collecting “facts” on the topic is flawed). Can someone more economically minded give me the run down of the counter argument?

    • Hello_there@fedia.ioOP
      1·
      2 months ago

      I’m no econ expert.

      But I think the argument goes that the rich aren’t sitting on wealth - they’re reinvesting it and making jobs.

      I think that’s BS if you look at in terms of class struggle and power dynamics.

    • CurlyWurlies4All@slrpnk.netEnglish
      1·
      2 months ago

      https://academic.oup.com/ser/article/20/2/539/6500315

      The economic consequences of major tax cuts for the rich

      This article contributes to this debate by utilizing a newly constructed indicator of taxes on the rich to identify all instances of major tax reductions on the rich in 18 Organisation for Economic Co-operation and Development (OECD) countries between 1965 and 2015. We then estimate the average effects of these major tax reforms on key macroeconomic aggregates. We find tax cuts for the rich lead to higher income inequality in both the short- and medium-term. In contrast, such reforms do not have any significant effect on economic growth or unemployment. Our results therefore provide strong evidence against the influential political–economic idea that tax cuts for the rich ‘trickle down’ to boost the wider economy.