Trickle-Down Success

Discussion in 'Economy' started by PoliticalChic, Apr 10, 2012.

  1. PoliticalChic
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    PoliticalChic Diamond Member

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    April 11, 491

    Anastasius become the Byzanine emperor, Anastasius I, 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.
    "Justinian's Flea: The First Great Plague and the End of the Roman Empire,"
    William Rosen, p. 62-63


    "Those who cannot remember the past are condemned to repeat it"
    George Santayana
     
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  2. Dragon
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    Dragon Senior Member

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    That was not trickle-down economics, since craftsmen and merchants were middle-class types in the Roman economy. If he'd been practicing trickle-down economics, he'd have abolished taxes on the nobility instead.
     
  3. PoliticalChic
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    PoliticalChic Diamond Member

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    Of course is was, exactly as posted....trickle-down economics.


    "Trickle-down economics" and "the trickle-down theory" are terms in United States politics often used by the American right to refer to the idea that tax breaks or other economic benefits provided by government to businesses and the wealthy will benefit poorer members of society by improving the economy as a whole."
    Trickle-down economics - Wikipedia, the free encyclopedia


    Again: "... tax breaks or other economic benefits provided by government to businesses and the wealthy..."


    Was the idea too nuanced for you?
    Sadly, I can explain it to you, I just can’t comprehend it for you.
     
  4. Dragon
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    Dragon Senior Member

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    Craftsmen and merchants were not "the wealthy" in the Roman economy. The nobility were. Hence, this was not trickle-down economics.
     
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  5. PoliticalChic
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    PoliticalChic Diamond Member

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    I can see that an understanding of the term 'wealthy' is the source of the problem....
    "...the empire’s most productive classes, its craftsmen and merchants, ...a prosperous merchant..."

    Having a short sighted, or limited understanding of the language, one might see the term 'wealhy' as an absolute.

    Would that be you?

    The more cognizant understand the term to be relative, as in...

    "The justice of the peace died just as our second prosperous epoch began, and luckily for us, his successor had formerly been a notary in Grenoble who had lost most of his fortune by a bad speculation, though enough of it yet remained to cause him to be looked upon in the village as a wealthy man."
    'The Country Doctor,' by de Balzac


    As you fail to see that "...the empire’s most productive classes," and "its craftsmen and merchants, ...a prosperous merchant..." are examples of 'wealthy,' then this is hardly a discussion in which you have cachet.
     
  6. Katzndogz
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    Katzndogz Diamond Member

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    Liberalism is the firm belief that we can have a successful economy if we end up cutting one another's hair and flipping one another's burgers.
     
  7. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Jackass.
     
  8. Dragon
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    Dragon Senior Member

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    Exactly. I do not (mis)understand the term "wealthy" to be synonymous with the term "productive."

    Trickle-down economics was not based on cutting taxes on the "most productive." It was based on cutting taxes on the wealthy. "Most productive" was purely a bit of right-wing rhetoric devoid of truth. The Emperor's tax cut, while it actually did favor the "productive" -- the REAL productive -- did not favor the wealthy, as trickle-down economics does.
     
    Last edited: Apr 10, 2012
  9. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Those who cannot remember the past score poorly on history exams
     
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  10. PoliticalChic
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    PoliticalChic Diamond Member

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    I can see that you are struggling to be relevant, and appear to be going down for the 'third time....'
    ....so allow me to push you under for good.

    From the OP:
    "...a prosperous merchant...."


    Do you know what 'prosperous' means?
    You do?

    Good boy!

    So....you'd subscribe to the following:
    pros·per·ous/ˈpräspərəs/
    Adjective:
    Successful in material terms; flourishing financially.
    Bringing wealth and success.


    See what happens when you don’t send that e-mail chain letter to seven people?
     
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    Last edited: Apr 10, 2012

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