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The Bob Cesca Show: My Shoes Fell Off

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BlueSpotinAL âś…1/12/2018 8:35:47 am PST

re: #320 Anymouse 🌹

The GOP has been pushing “trickle-down economics” since the XIX Century. That was the central point of William Jennings Bryant’s speech.

The GOP just calls it different things in different years. Hoover’s then Treasury Secretary Andrew Mellon pushed what was then the largest tax cut for the wealthy in history, using the same logic (it will create growth and jobs) - instead it created the Great Depression.

Before the development of economics as a “science”, the trickle-down argument at least had plausibility. Economists have since learned that trickle down is empirically false, regardless of theories why.