Mr Khan said:
Trickle down theory has been disproven, quite frankly. We don't need to be giving the rich more money when they have it better than they've had it in 70 years |
It... hasn't though. As the majority of economists not affiliated with any sort of political group and they generally aprove of those tactics. The only issue is... just like Kensyian economics, supply side economics leads to deficits.
Reganomics actually work pretty well. The only thing that caused his downfall was MASSIVE deficit spending caused by escalating a cold war was going to end soon anyway.
The largest drop of real wages since WW2 happened during the Carter administration.
You want to see disproven economics... look at the Kensyian theories. Pretty much every poltiician uses a Kensyian reaction to depressions and recessions and it pretty much never works... with the arugement always being "That's just because we need to spend more."
Up to, and including Hoover, who somehow gets used as proof kensyian economics is better even though he vastly increased government spending under his presidency, and there is even a quote during his leaving where he defends himself by talking about how he increased government spending more then any other president before him.
At the time, FDR was actually attack hoover for... "Spending and taxing too much."
Of course, FDR was the king of "Say one thing, mean the exact opposite" politics.
