The wages of the richest 1% have skyrocketed 182% since 1979. Meanwhile, the wages of the bottom 90% have seen just 44% growth. Trickle down economics was always a hoax.
Small correction: Trickle-Down was invented c. 1929, as they believed that private industry and wealthy oligarchs (“philanthropics”) would help the poor and bring the economy up and not through government initiatives or economic stimulus.
This is one of the first times widescale trickle-down was ever tried, and it was such a massive failure that the Governor of New York, Franklin D. Roosevelt, began using state funding to create welfare programs, food kitchens, and began serving the people with public funds, and not relying on “the relative goodness and prosperity of the upper class”.
This program was such a success in NY (during The Great Depression) that he absolutely destroyed the presidential campaign season in 1932, was elected to another four terms, dying a month before WWII ended, where his VP carried on for another 8 years as President. FDR was so successful at expanding and creating his New Deal programs, including Social Security, enacting a federal minimum wage, enacting federal unemployment wages, and more that they put term limits in place to ensure no one could ever take the time and build the coalition to do it again.
In the 80’s they wanted to go back to “classical america”, to make us all “great again”, by implementing trickle-down policies to try to begin the deconstruction of the entirety of the FDR legacy and the changes he brought, and to ensure only the politics of the oligarchs remained with the power to control the nation.
Every time trickle-down has ever been attempted eince has resulted in an absolute abject failure and the destruction of the working class to the benefit of the upper supremely wealthy classes. Oligarchs would rather the world wither and die, then to help their fellow human beings.
amhrancas 