Trickle-Down Economics Began...

[PoliticalChic]

April 11, 491

Anastasius becomes the Byzanine emperor, (491 to 518) the Roman Empire of the East.



In the first documented exercise of what would come to be called trickle-down economics, Anastasius I abolished a wide range of taxes that fell heavily on the empire’s most productive classes, its craftsmen and merchants, arguing correctly, that a prosperous merchant would pay even more in fees than the treasury lost in taxes.


Under his rule the treasury grew by 320,000 pounds of gold. Justin followed him in 518, followed by Justinian I.

From “Justinian’s Flea,” by William Rosen, p. 62-63

Trickle-down economics,...
Works every time....


Attention Barack Obama!

 

[there4eyeM]

Every time it is applied to artisans, craftspeople and small entrepreneurs, perhaps. When it is simply more riches dumped on the grotesquely rich, not certain.

Small scale capitalism is great. Mega capitalism is not great.

 

[PoliticalChic]

Every time it is applied to artisans, craftspeople and small entrepreneurs, perhaps. When it is simply more riches dumped on the gortesquely rich, not certain.

Small scale capitalism is great. Mega capitalism is not great.

You're inordinately sensitive to the term "small," aren't you.




" ...gortesquely..." ???

As a dyslexic, I'll bet you got terrible marks on exams...but never knew it.

 

[Procrustes Stretched]

Trickle-down economics,...
Works every time....

This is what denial and ignorance looks like

 

[Procrustes Stretched]

The term has been attributed to humorist Will Rogers, who said during the Great Depression that "money was all appropriated for the top in hopes that it would trickle down to the needy."[2] The term is mostly used ironically or as pejorative.

David Stockman, who as Reagan's budget director championed these cuts at first but then became skeptical of them, told journalist William Greider that the "supply-side economics" is the trickle-down idea: "It's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory."

Reagan ran against deficits until he needed huge ones to justify his Voodoo Economics (GHW Bush)

 

[Truthmatters]

what do you do with a group of people who refuse facts at every turn?

you leave them behind

 

[PoliticalChic]

Trickle-down economics,...
Works every time....

This is what denial and ignorance looks like

-Yawn...-

"It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut taxes now." These Reaganesque words came straight from the lips of President John F. Kennedy in 1962, and they ring as true today as they did then.

Three times in this century the United States has significantly reduced the top marginal income tax rates. In the 1920's the top rate was lowered from 73 percent to 25 percent. Between 1921 to 1928, tax revenues rose from $719 million to $1.16 billion, an increase of over 60 percent. President Kennedy's tax cuts between 1963 and 1965 lowered the top rate from 91 percent to 70 percent. Over that period, revenues increased more than 16 percent."
Lower Taxes, Higher Revenues - NYTimes.com

 

[PoliticalChic]

what do you do with a group of people who refuse facts at every turn?

you leave them behind

Right!!


That's what I say!!


BTW....did you see post #7?


See ya'......

 

[EdwardBaiamonte]

Trickle-down economics,...
Works every time....

This is what denial and ignorance looks like

Jude Wanninski wrote a book called "The Way the World Works" it is a look at supply side economics throughout world history!!

The basic principle is that government does not invent products so the more money a government takes the fewer new products a society will have and the slower economic progress will be.

 

[C_Clayton_Jones]

Every time it is applied to artisans, craftspeople and small entrepreneurs, perhaps. When it is simply more riches dumped on the grotesquely rich, not certain.

Small scale capitalism is great. Mega capitalism is not great.

True, it’s an anachronism, a fantasy of the reactionary right.

 

[Dugdale_Jukes]

Trickle-down economics,...
Works every time....

This is what denial and ignorance looks like

Be careful, this lying nutball scumbag has got me pointed in two separate incidents for word-painting her accurately. But yes, you are correct.

Debt-fueled supply-side "new economy" bogusness is the foundation for the asset-inflation of the so-called roaring 90s which was little more than a pipedream for anyone below the top 10% or so and flat out treading water or losing ground about two-thirds of Americans.

What tickles me about the fake-conservative element is that somewhere in this very thread an ignorant nutball will state with all the authority a third-hand account of something overheard can generate, that supply creates demand. The bullshit is so pure nutballs probably make some kind of perfume from it is why I come to Pc's threads. Can't buy comedy like that in actual comedy venues any more.

 

[PoliticalChic]

Trickle-down economics,...
Works every time....

This is what denial and ignorance looks like

Be careful, this lying nutball scumbag has got me pointed in two separate incidents for word-painting her accurately. But yes, you are correct.

Debt-fueled supply-side "new economy" bogusness is the foundation for the asset-inflation of the so-called roaring 90s which was little more than a pipedream for anyone below the top 10% or so and flat out treading water or losing ground about two-thirds of Americans.

What tickles me about the fake-conservative element is that somewhere in this very thread an ignorant nutball will state with all the authority a third-hand account of something overheard can generate, that supply creates demand. The bullshit is so pure nutballs probably make some kind of perfume from it is why I come to Pc's threads. Can't buy comedy like that in actual comedy venues any more.

This lying sack of excrement has fabricated some fantasy that involves me.

He needs to see a psychiatrist....

I've challenged him each time to provide proof....and he slithers off.

 

[EdwardBaiamonte]

supply creates demand. .

dear its called Say's Law. Look it up!!

People starved to death for centuries demanding a farm impliments that had not been invented; it wasn't until a Republican supply-sider finally supplied or invented them that civilization began.

Is that simple enough for you??

 

[EdwardBaiamonte]

Mega capitalism is not great.

yes, USA union Detroit liberal cars were better before the market was globalized!! Mega capitalism from Japanese cars only dragged down the quality of cars!!!

 

[Dugdale_Jukes]

supply creates demand. .

dear its called Say's Law. Look it up!!

People starved to death for centuries demanding a farm impliments that had not been invented; it wasn't until a Republican supply-sider finally supplied or invented them that civilization began.

Is that simple enough for you??

You kill me, Edmund. Really.

How did Say's Law apply to the buggywhip business in the Americas before, Say, 1492?

Two things on Say's Law:

1. Capital
2. Credit
​

In sum, Edmund, supply side, uh, nuttiness, was proved bogus when squirrels figured out how to store acorns.

 

[EdwardBaiamonte]

How did Say's Law apply to the buggywhip business in the Americas before, Say, 1492?

dear Say held that supply creates demand which seems very very obvious. Demand is a given in nature. People are born demanding food clothing shelter air, water, tranportation etc. People died by the millions until Republicans offered supply to meet the demand at a price that people could pay!

Catching on now??

 

[Dugdale_Jukes]

How did Say's Law apply to the buggywhip business in the Americas before, Say, 1492?

dear Say held that supply creates demand which seems very very obvious. Demand is a given in nature. People are born demanding food clothing shelter air, water, tranportation etc. People died by the millions until Republicans offered supply to meet the demand at a price that people could pay!

Catching on now??

No, but laughter nearly caused me to hyperventilate.

Couldn't help but notice you excised "capital", "credit", and the example of the squirrel, all of which create questions about Say's Law that cannot possibly be answered directly.

Even Austrian halfwits and the filthy god damned scum at Chicago these days don't trot Say out any more - now that capital and credit are proved to make Say's Law laughing stock by honest people and even by most halfwits pretending to expertise in economics.

Are you aware that at one time the Pope declared the earth is the center of the universe? Get with the halftwit mod here and see if the two of you can connect the Pope fucking it all up to Say and then on to ReagaNUTics and then connect ReagaNUTics to 2008? If you can't do that, go ahead and imagine a great loud BZZZT!! sound, or maybe a zero on your sophomore paper on supply creating demand.

 

[EdwardBaiamonte]

No, but laughter nearly caused me to hyperventilate.

why would you laugh at Say's law when you lack the IQ to understand it?

Couldn't help but notice you excised "capital", "credit", and the example of the squirrel, all of which create questions about Say's Law that cannot possibly be answered directly.

so then dear what is the question, exactly???????????? Are you afraid to tell us???

Even Austrian halfwits and the filthy god damned scum at Chicago these days don't trot Say out any more - now that capital and credit are proved to make Say's Law laughing stock by honest people and even by most halfwits pretending to expertise in economics.

dear please tell us exactly how capital and credit make supply side economics mistaken or admit you lack the IQ to do so.

 

[Dugdale_Jukes]

No, but laughter nearly caused me to hyperventilate.

why would you laugh at Say's law when you lack the IQ to understand it?

Couldn't help but notice you excised "capital", "credit", and the example of the squirrel, all of which create questions about Say's Law that cannot possibly be answered directly.

so then dear what is the question, exactly???????????? Are you afraid to tell us???

Even Austrian halfwits and the filthy god damned scum at Chicago these days don't trot Say out any more - now that capital and credit are proved to make Say's Law laughing stock by honest people and even by most halfwits pretending to expertise in economics.

dear please tell us exactly how capital and credit make supply side economics mistaken or admit you lack the IQ to do so.

Did you feel the 'click' under your boot, Ed? Moved these posts out of the format hole they were in so no one reading this thread needs to miss it.

Say's Law is really only about commodities, but at the level of pretense here it wasn't something worth shutting the discussion down over. Plus you couldn't have trapped yourself while the other nutters here sat on their hands letting you take all the risks because they are as clueless about anything that can't be cut and pasted as a sixth grader doing a report on quantum mechanics.

But I digress...

On capital... Where is it, Ed?

On credit... How is that working, Ed?

That's about all the clues the superior conservative mind should need to crush a nihilistic comedian, isn't it? Be clear we're going to get to the bottom of this leaving no shadow of doubt, and when we do no honest person can possibly claim supply side horseshit works except in the syphlitic-grade fantods of nutter dead-enders.

These clues are the natural result of my generosity of spirit - an opportunity for you to get out in front of the inevitable and end the game looking sharp.

 

[EdwardBaiamonte]

That's about all the clues the superior conservative mind should need .

dear, I'm not looking for clues. Please say how capital and credit prove that supply side economics is mistaken or admit as a typical liberal that you lack the IQ to do so.