The concept of trickle-down economics is tied to Ronald Reagan, but the idea's been around and in use since the 20s. It's simple: Give more money to the wealthy and they can use it to rev up an economy. But is the whole thing just a scam?
# Stuff You Should Know Episode Summary
Join Josh and Chuck as they dive deep into trickle-down economics—the controversial theory that giving tax breaks to the wealthy will stimulate the entire economy. They trace the idea from its origins in the 1920s through Reagan's implementation in the 1980s, explore the Laffer Curve that supposedly explains why it works, and examine whether the evidence actually backs up the theory. Fair warning: you won't get a definitive answer, because even economists can't agree on whether this policy actually works or just transfers wealth to the rich while claiming something will magically trickle down to everyone else.
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