Ever since Reagan introduced “trickle down” economics at the start of the 1980’s, the theory has been proven wrong again and again.
From 1989 to 2021, typical working families watched their (inflation-adjusted) incomes and wealth decrease. While the wealthiest 1 percent of Americans became $29 trillion richer, and the national debt exploded.
Trump promises to extend his disastrous tax cuts if he gets a second term.
So why is this debunked theory still with us? Because moneyed interests have invested a portion of their ill-gotten gains into brain-washing the American public.
In today’s column, Robert Reich takes on the “12 Biggest Myths About Taxing the Rich” that the inequality media have been pushing. It’s well worth the 8 1/2 minutes to listen to his video.
