Reaganomics Sucked Wealth Up, Did Not Trickle It Down

[Lars77]

Run time: 08:32 https://www.youtube.com/watch?v=ZBZdpYdEmgY   Posted on YouTube: February 06, 2011 By YouTube Member: TheRealNews Views on YouTube: 124   Posted on DU: February 06, 2011 By DU Member: Lars77 Views on DU: 943

 

[ananda]

1. Let's call it what it is - flood up economics.

nt

[Lil Missy]

2. The rich get richer and the rest of us get what's leftover, through the buisness end of the elephant

[Avant Guardian]

3. Trickle down econimics is NOT capitalism

Nobody hires to increase supply, hiring is done in response to demand. The whole premise of supply side is fatally flawed. Communism is also a supply based economic system.

[Populist_Prole]

5. Yes Yes Yes, and Bingo!

The whole chattering class of economists and media "intelligensia" realize it but they just don't want to. The plutocrats are of course out of reach and always will be.

There will be no solid sustainable recovery until the working class is nourished enough to provide demand for said businesses. This is also points to the folly of trying to base a recovery on what I call "second money". GDP doesn't mean squat: All it shows is how much money is flying around, but not economic health. Buying mostly imported stuff and services to/from each other will not get us out of this.

[Quixote1818]

6. Well in some cases like starting a new industry it helps move things along

to give tax breaks, however thats not what they do with money any more. Most of it goes to the stock market.

[Quixote1818]

4. k and r

[Overseas]

7. K&R! Excellent! //nt

[bvar22]

8. Incredible to me that the leadership of BOTH political parties...

...still endorse and practice Reaganomics.

Reaganomics and "Free Trade" DOES work well for the top 1%.
Wish we had a political party that represented the Working Class & The Poor.