2025 Could Be The Biggest Wealth Transfer In US History

We’ve been fed a huge lie that cutting taxes for corporations and the rich is good for everyone.

We can thank Dick Cheney, Donald Rumsfeld, and Art Laffer — who concocted the scheme over oyster stew.

Their theory became Reaganomics, and then Trump’s tax bill.
And we’re all paying the price.
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[kevinlawrence]

I've got a great joke about trickle down economics but 99% of the people won't get it.

[Monotremata]

For every loophole in the tax code, there is army of lobbyists ready to defend it.

[sunalwaysshinesonTVs]

"Socialism for the rich, rugged individualism for the rest of us" -MLK

[GungaGaLunga]

Wrong. You cannot "move to a smaller more affordable apartment." They do not exist anymore.

[JETAlone]

What conservatives tell us tax cuts will do: "Oh boy, I have more money! Now I can pay my employees better and invest in better facilities and hire more people and-"

What tax cuts actually do: "Oh boy, I have more money!"

[jackaboyx]

The issue isn't that corporations aren't being taxed enough, it's that they are able to avoid taxes. You can tax them all you want but unless you remove some tax loop holes, nobody is going to benefit from any policy

[SarahGriff]

Many people overlook the fact that large corporations, including banks, are fundamentally profit-driven entities. Even if they were completely freed from tax liabilities, their priority would remain maximizing their financial gains..

[MrCool]

The Laffer Curve. I remember my economics professor in college back in the 80's lecturing hard against this. He was spot on.

[erika]

I remember my grandma used to rent rooms in her house back in early-mid 90s. She rented the rooms pretty cheaply and renters were able to save enough, that once ready and more stable, they'd leave and find more permanent housing (or bigger home if they ended up having a baby). Sometimes, it was a couple just starting out, a college student, or others who were not able to find something more affordable. She'd treat each one with respect and kindness, and they, in turn, respected her. Some stayed for a long time, and some would return years later, or pop in for random visits to "grandma" as they'd end up seeing her as family.This was a woman who did not rent just for the sole purpose of making money. She rented to provide a roof over fellow humans, maybe going through a rough patch who just needed a hand or a break so they could lift themselves up. I don't know how we've become a society so greedy who only thinks about themselves (or who allow large greedy corporations/businesses to take advantage). I'm not saying everyone who rents should follow this model, but at least for businesses who price gouge, there should definitely be more restrictions so that others can rent at fair price. ❤

[WAL_DC-B]

That "trickle down" is warm, moist and yellow in color.

[MikeSwirled]

It’s incredible to me that average people would believe a billionaire would have their best interests in mind.

[xlerb]

Trickledown was a crock in the Reagan years, it's a crock now. Only difference is then people knew it was a crock. Today they cheer for it.

[UnitedCorporationsOfAmerica]

A history of the top marginal tax rates on the wealthiest Americans: 1940: 81% 1950: 84% 1960: 91% 1970: 72% 1980: 70% 1990: 28% 2000: 40% 2010: 35% For 50 years, corporate backed politicians in Congress have slashed taxes to line the pockets of their wealthy donors.

[atticstattic]

Wealth doesn't trickle down - it gets sucked up...

[lindas]

Instead of passing on the savings, my company told me I was “lucky to even have a job”.

[crisdekker]

Wealth trickling down only happens when you squeeze hard.

[patndave]

I remember my older brother holding his young toddler daughter. As she peed on his US ARMY fatigues, he gallantly mused, "That must be Reagan's Trickle Down Policy".
The joke went completely over my head.

[risch]

There are more than 6, 000 US companies with more than 1 billion dollars in revenue. In the first quarter of this year, all corporate PROFITS were 2.7 5 trillion dollars and that was lower than the fourth quarter of 2023. Tax revenue received in 2023 was 4.4 Trillion, which half was paid by individuals. Corporations need to be taxed more and pay more to their average employees

[quietspark]

My mom and a ton of other Wells Fargo employees got laid off while the CEO gave himself yet another a bonus. It happened in November, they could not even wait till after Christmas. Trickledown is a flat out and obvious lie.

[TrainerAQ]

This election is really the billionaires vs everyone else.