| ▲ | odo1242 10 hours ago | |
You can't call "trickle-down economics" a strawman without actually naming what is different between it and "supply-side economics". Otherwise I have to assume that people are just calling the same policy by two different names. Like how proponents of DRM call it "Digital Rights Management" and critics call it "Digital Restrictions Management" but both people are referring to the same technology. tl;dr: If you could name me differences you would name me differences | ||
| ▲ | manlymuppet 9 hours ago | parent [-] | |
My above comment helps with the distinction. If you missed it: """ I think supply-side economics deserves more nuance than simply thinking we need to make the tax rate arbitrarily low. The Laffer curve isn't the only thing you should look at, since where you tax can be just as important as how much you tax. Take corporate taxes for example. If one were to advocate to get rid of corporate taxes, you might think that person unabashedly biased. What kind of person would want to give breaks to the richest people (corporations) when everyday people are the most in need of those kind of cuts, right? But the reality is that when you tax corporations, that is one of the most economically damaging taxes you can do. How about then, rather than taxing corporations, you tax the benefactors of those corporations directly? When you tax Walmart, sure you tax the C-suite, but you also make it so that Walmart can hire less people, and invest less in the economy. Rather than taxing the corporation, what if you just taxed the C-suite directly? Tax the Walton family, or the highest earning employees directly, and you get to have your cake and it too since you get similar amounts of tax revenue without damaging the economy nearly as much. You'll see this often in the social democracies of Scandinavia, like Sweden or Denmark. These are countries with strong welfare states, and yet, the corporate tax rates are often lower than the U.S., even if you look at the most red states. This is supply side economics at work, and an example of how supply-side economics can be easily misrepresented. """ | ||