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philipallstartoday at 3:42 PM3 repliesview on HN

> Trickle-down economics isn't just a hoax, it's corrosive to democracy.

It's a hoax in that it's a straw man that no one advocates for.


Replies

nocoolnametomtoday at 4:02 PM

Perhaps, but the entire ecosystem of associated buzzwords/ideas is pretty popular in our culture today: "job creator" C-suite executives magically "create" jobs and/or raise pay because their budget for taxes goes down and they just don't know where else to put the cash, thus everyone benefits. Is it a straw man? Sure. Is it the same pablum often delivered by the evening news and politicians? Yes. Is reality a TON more complicated and often counter-intuitive? Yep. (Raising wages doesn't seem to have a _direct_ correlation to inflation, it's correlated but often lagging and muted in response; job creation seems to be mostly a market effect not corporate decision; the modern definition of "fiduciary duty" means extra cash should go toward immediate stockholder benefit so stock buybacks are always FAR more likely than employee benefits; etc; etc).

The one area I'd push back strong on is that nobody is "advocating" for it. Many stockholding orgs/individuals are. They don't care if its a straw man, they know what the real-world systemic effects are of lower taxation rates.

tgvtoday at 3:54 PM

You may read "supply-side economics" instead.

DauntingPear7today at 4:00 PM

The current admin sure does seem to push for it