Has there ever been a time that Reaganomics worked the way it was supposed to?

Question

Has the trickle down effect ever come about as it was promised to?

Whenever trickle-down policies are in play, the number of poor has increased rather than decreased. Also, tax revenues do NOT go up. In actual fact, when the government slashes taxes on rich, it always has to borrow the money to cover the shortfall that results. Bush is borrowing from China to pay for his tax cuts today. Bush takes in less tax revenue today -- when adjusted for inflation -- than Clinton. In fact, studies now show that borrowing and spenders actually make the goverment bigger than tax and spenders. Why? Because an illusion is created that we're getting something for nothing. Give me a credit card with a 10 billion limit, I can make people think I'm doing quite well, even though I'm not.

Answer 1

no Trickle down economics has been proven that it never worked. The rich people saved their money instead of spending it.

Answer 2

I think many aspects of it did work-- tax revenues in the 80's went up quite a bit even tho tax rates were dropped-- Interest rates in the 80's were also much lower than in the late 70's.

some of those policies also laid the groundwork for the 90's which had a long time of growth and increase in wealth across the board.

Problem is, Reagan spent way too much money and built up a huge debt. Were there problems, Yes, but many of his policies were good ones.

Tax policy is all about driving behaviors. in order to create jobs, you need capital and an economic/tax/monetary policy to foster people willing to take risks and have a decent business case to make money via business. Businesses employ people-- Governments are necessary but do not necessarily produce the same economic benefit that the private sector does.

Answer 3

Reagan's Voodoo "trickle down economics" worked quite well, taxes were slashed, the economy skyrocketed, business thrived, the wealthy hired more workers, unemployment dropped, those that couldn't work were taken care of....and...uh those that didn't want to work were forced to.. Oops... Is that why you are pissed??? Hey didn't Kennedy do the same thing and everybody was just happier than a pig in **** ?? (better check your Congressional; Financial Abstract before you bleat an answer)

Answer 4

Yes. Today. Since 9-11. During the 80s. Lowering taxes to those who PAY net income taxes results in higher revenue to the Federal coffiers EVERTIME.

What U.S. President said about reducing tax rates, "A rising tide lifts all boats?"

Hint: Wasn't Reagan

Answer 5

The economy BOOMED with Reagan, money grew to become into quite elementary to earn. He ushered interior the era of conspicuous intake. human beings had money and have been desirous to spend it after the dismal Carter years. We had elementary credit, substantial jobs, and family earnings went up around the board. For the 1st time, the indoors city Black community grew to become into gaining wealth. He deregulated the telephone equipment and that ushered interior the commencing up of the cellular telephone marketplace . there's a reason Reagan is so nicely theory-approximately!

Answer 6

Just like Iraq-the Repubs won't raise taxes-give the oil companies incredible finacial breaks-but somehow the little guy will foot the 400 billion $ Iraq war tab.

Answer 7

well, it came down to some people on the middle to upper levels of the pyramid. during the Reagan years the economy in general was booming... but it didn't really work out as a long term thing...
it's kind of like MLM/pyramid scams... they work for the first few layers of people and then peter out.

Answer 8

Did you miss the 90s?

Answer 9

trickle down aka urinating on the lower class economics is a sham

Answer 10

yes and yes.