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submitted 1 year ago by NightOwl@lemm.ee to c/canada@lemmy.ca
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[-] LeafOnTheWind@lemmy.world 4 points 1 year ago

Ah yes, trickle down house-enomics.

[-] nik282000@lemmy.ca 2 points 1 year ago

Not enough people say this, fuck Regan!

[-] Rocket@lemmy.ca -1 points 1 year ago* (last edited 1 year ago)

Regan? What? Are you struggling to spell (Will) Rogers? It is he who coined 'trickle down economics' – as a joke – and it was in reference to Hoover. Regan enters the picture nowhere. He has no connection to trickle down, housing in Montreal, or anything to do with Canada at all.

[-] nik282000@lemmy.ca 2 points 1 year ago

Ronald Reagan's economic policies, dubbed "Reaganomics" by opponents, included large tax cuts and were characterized as trickle-down economics.

[-] Rocket@lemmy.ca -1 points 1 year ago* (last edited 1 year ago)

Characterized by who? Trickle down economics isn't an actual thing, just a joke that made fun of Hoover's engineering background making him familiar with water tricking down, but not realizing that money 'trickles up'.

[-] LeafOnTheWind@lemmy.world 1 points 1 year ago

Trickle down economics was not a joke to Reagan (publicly anyway). His plan called for massive tax cuts to the rich so their growth would "trickle down" to everyone else through more jobs from business expansion.

A remarkably stupid idea that has only worked out for the rich...

this post was submitted on 10 Oct 2023
94 points (98.0% liked)

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