The concept of trickle-down economics always struck me as ludicrous nonsense. I have never been able to take anyone seriously who believed in it or supported it. To me, it has always been a preposterous notion that could only be backed and sustained by the avaricious and narcissistic.
The test of time has shown us clearly, now, beyond doubt, that trickle-down is absolute bunkum and flim-flam.
We now know, beyond doubt, that wealth has travelled upstream. We have seen the 1% get richer, as the 99% (that’s “us” by the way) stagnate and get poorer.
We have seen imposed ‘austerity’ – which is itself a grotesque nonsense – impose poverty and cuts on public services, as well as our most vulnerable citizens – and all whilst the richest have got far richer.
There is no possibility in the sense of ‘austerity’ been genuine that the number of billionaires could more than double in number as they have, in the same 3 years as so many public services and vulnerable people have faced such barbaric cuts.
We have a 1% in which a great many do NOT want to pay a fair share in taxes. In the bigger picture, I would like a different system, for want of a better word. But under what we have now, I think that, if one is part of a super-rich elite, that it is fair you should pay more. That does not punish success, and frankly that argument is one of greed and avarice. If the rich paid more, and that was directly spent to benefit the 99%, then you would start to see wealth trickle-down. But in turn, this would also benefit the wealthier, as more people would have money to save and spend.
The bottom-line seems to me, though, that continuing down the current road has no future worth having unless you are in that 1%.
But we have to change that. It’s up to “us” to do that, because the 1% “them” love ‘austerity’ and keeping the river of wealth flowing upstream.
This recent programme shows just how ‘trickle-down’ economics has failed, and why it will never work. If you’ve not seen it, it is a must-see in my humble opinion:-