Nonsense perpetuated by the rich. 😦

“Trickle-down economics“, also referred to as “trickle-down theory”, chiefly and originally in United States politics, is the idea that economic benefits provided to businesses and upper income levels, or money appropriated by government via taxation, will indirectly benefit poorer members of society when the resources inevitably “trickle down” to them.

The term has been attributed to humorist Will Rogers, who said during the Great Depression that “money was all appropriated for the top in hopes that it would trickle down to the needy.

In more recent history, the theory is most closely identified with critics of the economic policies known as “Reaganomics” or laissez-faire. David Stockman, who as Reagan’s budget director championed these cuts at first but then became skeptical of them …

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