Nerfonomics

Freediver

Likes Bikes and Dirt
@Nerf Herder Trickle down economics was described by a NZ politician as the rich pissing on the poor.
The idea that giving tax cuts to the wealthy so they invest more has been proven to not work. The wealthy just accumulate more and the divide between rich and poor increases.

"The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth"


Or you could read this https://en.wikipedia.org/wiki/Trickle-down_economics
 

Kerplunk

Likes Bikes and Dirt
@Nerf Herder Trickle down economics was described by a NZ politician as the rich pissing on the poor.
The idea that giving tax cuts to the wealthy so they invest more has been proven to not work. The wealthy just accumulate more and the divide between rich and poor increases.

"The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth"


Or you could read this https://en.wikipedia.org/wiki/Trickle-down_economics
Also known as Dribble down economics
 

Calvin27

Eats Squid
Trickle down economics was described by a NZ politician as the rich pissing on the poor.
The not-so-surprising thing is that this doesn't even work when you target middle class welfare. If you want to boost the economy, the sure fire way to do it is give it to those who will almost certainly blow all of it - folks right at the bottom. Anyone who has potential to save/reinvest it is doing stimulus a disservice.

On a similar note, impact of lower birth rates expected from covid. It really is the environmentalists wet dream.
 

Kerplunk

Likes Bikes and Dirt
Is trickle down economics mutually exclusive with the “Wealth effect”? Or is it the middle class version of trickle down?
 

pink poodle

Our man in the West
The not-so-surprising thing is that this doesn't even work when you target middle class welfare. If you want to boost the economy, the sure fire way to do it is give it to those who will almost certainly blow all of it - folks right at the bottom. Anyone who has potential to save/reinvest it is doing stimulus a disservice.

On a similar note, impact of lower birth rates expected from covid. It really is the environmentalists wet dream.
Fuck right off there Chairman Mao! The biggest economic issue with giving welfare to those at the bottom is that I feel jealous that they are getting something that I am not. That is the kind of inequality I can't allow!

a real estate agent as trying to ell me yesterday the biggest problem holding back the economy at the moment was the social welfare issue. It is tying up too much of the government's money! Here I was thinking it may be more to do With economic uncertainty and rationalisation l with a healthy dose of bommer-nomics!
 

Calvin27

Eats Squid
a real estate agent as trying to ell me yesterday the biggest problem holding back the economy at the moment was the social welfare issue. It is tying up too much of the government's money!
Always love a backyard vested interest argument. Almost as good as 'I worked and paid for my pensions'. I haven't seen one pensioner do the maths.
 

gillyske

Likes Dirt
What is the point of me working 40 hours + countless unpaid overtime in a job I hate if other people are not living in poverty
surely we are a long long way from stagflation ... so Surely this is the best time for the RBA to rubber stamp everything the govt wants to do.

this is the time we should be
Upgrading out internet infrastructure
Building rail for both commodities and minerals
Putting in Battery Networks to leverage off Solar capture
Desal via osmosis powered by solar in off peak times ( saw an article Perth has so much excess capacity in Winter that it’s putting the grid in jeopardy)

meh ... if only I was dictator for a day
Do the liberals actually want to do any of these things?

Poverty is a character flaw
Unless it happens under any other ideological system besides capitalism, then it is a fault of the ideology.
 
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beeb

Likes Bikes and Dirt
With the "labour reforms" the Libs are pushing for, and the upcoming restrictions to JobKeeper (you must take any job offer you receive otherwise your payments switch off and you have to reapply and wait potentially four weeks until they restart), class/income divide is set to get a lot, lot worse IMO.
 

rowdyflat

chez le médecin
Any sort of stress usually favours the wealthy, they are better able to take advantages of situations and unlikely to lose a job.
 

leitch

Feelin' a bit rrranty
With the "labour reforms" the Libs are pushing for, and the upcoming restrictions to JobKeeper (you must take any job offer you receive otherwise your payments switch off and you have to reapply and wait potentially four weeks until they restart), class/income divide is set to get a lot, lot worse IMO.
Frydenberg looking to Thatcher and Reagan for inspiration tells us everything we need to know about how much of a clusterfuck their economic "recovery" plan is going to be.
 

rowdyflat

chez le médecin
Frydenberg looking to Thatcher and Reagan
I am sure he is a nice bloke but quoting Reagan in particular who was a complete fuckwit and demented, Frydenberg shows he has no vision or idea about what to do.
Reagan was particularly destructive to the economy for all but the wealthy.
 
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