Trickle down economics essentially says that cutting taxes for the wealthy and corporations directly benefits the working class by trickling that wealth down to us through things like wage increase and investment, which i believe has been proven to be wrong/ineffective multiple times. On the contrary, progressive taxation says that taxing the rich at a higher rate will bring in billions more in revenue which will fund social programs like healthcare and education, and projects like infrastructure. What im asking is would the taxes really be used this way? Trickle down says tax cuts will help us by increasing the job market and economy, progressive taxation says it will help by using the tax revenue to fund social programs but i doubt the revenue would be used in that way. America already brings in over 5 TRILLION dollars each year in taxes, and what do we have? Good healthcare? No. Good infrastructure? No. Good housing market? No. I doubt that adding in an extra couple hundred billion would magically make politicians use that money for the good of the people and fund things like healthcare. I think it would lead to increased military spending, foreign aid, and more of the same everywhere else. Im not an expert this is my opinion which is why im asking your thoughts. I ask this because i always see the things where its like “if billionaires paid there fair share in taxes we could all have universal healthcare” and im just thinking like WE ALREADY COULD have universal healthcare, our government just uses that money on foreign policy rather than ours. Your telling me if they got even more money, thats all gonna go back to us? Someone help me out. (Just to clarify i’d rather try it out and see if it works then let a couple middle aged men hold it for their yatchs and mansions, im just saying i dont think progressive taxation is gonna magically solve our issues)
Is progressive taxation essentially reverse trickle down economics?
byu/Quick-Necessary1007 inAskEconomics
Posted by Quick-Necessary1007