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RT @rbreich
The upward redistribution of wealth over the past 40 years has shifted $50 trillion from the bottom 90% to the top 1%. That’s $50 trillion that would have gone into the paychecks of working Americans.
The greatest trick of all is trickle-down economics.
@rbreich A very dirty trick indeed.
One interesting thing is how Reagan is credited with "inventing" trickle-down, but he didn't have the brains to have even comprehended it.
So who was really pulling his puppet strings??
@BethOwl @rbreich
FDR's New Deal pissed off the fatcats who got busy funding far right economists, John Birchers, and writers. But I can't remember names.
When people argue that handouts to the poor will be wasted on alcohol, drugs, lotto tickets, that the poor need austerity so they're motivated to work, that's trickle down.
"Meritocracy" is trickle down. "Prosperity gospel" also.
Fatcat propaganda is ubiquitous. Also, false. The New Deal worked.
Wikipedia: https://en.wikipedia.org/wiki/Trickle-down_economics
![In 1896, presidential candidate William Jennings Bryan described the concept using the metaphor of a "leak" in his Cross of Gold speech:
"There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it."
In 1982 John Kenneth Galbraith wrote that "trickle-down economics" was known in the 1890s under the name "horse-and-sparrow theory".
In a 1932 column criticizing Herbert Hoover's policies and approach to The Great Depression Will Rogers wrote:
"This election was lost four and six years ago, not this year. They [Republicans] didn't start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickles down. Put it uphill and let it go and it will reach the driest little spot. But he didn't know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow's hands. They saved the big banks, but the little ones went up the flue."](https://cdn.masto.host/medmastodoncom/media_attachments/files/109/954/528/539/813/881/original/e214d318f71d5e6c.png "In 1896, presidential candidate William Jennings Bryan described the concept using the metaphor of a \"leak\" in his Cross of Gold speech:
\"There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.\"
In 1982 John Kenneth Galbraith wrote that \"trickle-down economics\" was known in the 1890s under the name \"horse-and-sparrow theory\".
In a 1932 column criticizing Herbert Hoover's policies and approach to The Great Depression Will Rogers wrote:
\"This election was lost four and six years ago, not this year. They [Republicans] didn't start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickles down. Put it uphill and let it go and it will reach the driest little spot. But he didn't know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow's hands. They saved the big banks, but the little ones went up the flue.\"")
@BethOwl @rbreich
Fatcat reaction to calls for better funding of healthcare, education, transportation, and other services is more alarming now with IT everywhere.
In the past, managers had relationships with workers. They learned who was trustworthy or competent or temporarily struggling within those human relationships.
Thanks to IT, managers 5 states away use "data" to make decisions. They don't give a fuck about the people. A techno-fascist reaction to socialism will bring atrocities.
@rbreich The only thing that trickles down is piss.
@rbreich money has gravity. The more you have, the more it attracts. Redefining labor as partners in the company who share in profits, rather than being paid a wage would help. Wages themselves are designed to be a stepping point the company can climb a ladder with as they increase the margin without increasing pay. Giving workers a percentage of the profits would slow that down and would make workers feel invested in the company. I also think that workers should be free to move to-
@rbreich - another company without consequence. Especially at low wage jobs. If the burger place nearby needs workers and pays better they should be able to leave the one they are at without getting a negative work history. Ask for a raise, or be free to walk out.
@rbreich Quite tired of being “trickled on” frankly.
@rbreich That would mean that 1% (of the US?) have $50 trillion dollars of other people’s money. That’s three million individuals with about $15 million each. Which they don’t deserve.
Ben Haube 
@rbreich I used to be a liberal with socially progressive views and fiscally conservative views. First, I saw the Trump tax cuts for the rich, and my taxes go up. Then the pandemic happened and I saw the immense shift in wealth from normal people to the ultra-wealthy. That was the final straw for me. Now I'm a social democrat, and I'm seriously considering moving to Scandinavia. Unfortunately, this country is so fucking corrupt that I can't see anything changing.
@rbreich gush up and trickle down.
@rbreich US has a trickle-up economy. Less tax and get interest for the loans to the goverment for the tax spared.