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this post was submitted on 10 Oct 2023
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Not enough people say this, fuck Regan!
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.
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'.
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...