Turns Out That Trickle-down Economics Pushed By The Right is Total BS

Who knew? Everybody! Do you guys ever get tired of being wrong about everything? Apparently not. Go lick some more rich man's boot.

Piketty's book, which is also a New York Times best-seller, challenges the conservative economic theory of trickle-down economics, or the belief that a rising tide lifts all boats. In Piketty's view, backed by centuries of data on wealth and economic growth, the typical outcome of unfettered capitalism is rising income inequality. Piketty says the world's biggest economies have to do something, like impose a global tax on capital, to stop it. As Piketty said in an interview, income inequality is only getting started, and this century could look a lot more like the deeply unequal 18th and 19th centuries than the more-egalitarian 20th.

 

Heheheh.. A socialist who wants to impose a global tax. No wonder you agree with him.

 

Interesting. When you make false statements, you can justify anything.
1) Trickle down economics has absolutely nothing to do with an unfettered economy.
2) Higher taxes have absolutely been shown to kill the economy.
3) There has never been a sustained socialist economy.
4) The most fettered economy ever in the US is under out present IOC. The fastest growing "income inequality" ever has been under that very same IOC.

 

Yeah, Interesting.

 

1) unfettered - To set free or keep free from restrictions. Taxes are restrictions? BTW, Caqpitalism is a form of an economy.
2) See California, Illinois, Michigan, UK (prior to thatcher), Russia, China, etc.
3) With that un-response, I guess you have conceded the point.
4) See 1) above. And, IOC = Idiot in Charge = the one fettering the economy or fettering capitalism if you prefer.

 

You really didn't understand a word of post 4, did you.

 

More so that you understand capitalism.

 

I'm looking forward to reading this. I'd like to see what he has to say and how he supports it. I think it's a pretty safe bet that none of our Rightist friends here will bother. It has more than 50 pages and it's written by a French guy and it might even have numbers and stuff in it.

 

Then it's no wonder you haven't read it yet.

 

That and it is sold out. Duh!!!!

 

The typical ignorant yapping about "socialism" aside, I do agree that Piketty's solution to the very real (and economically harmful) phenomenon of growing inequality seems rather naive. He says he's looking forward to debating his ideas, and maybe he can flesh them out in such a way that they would actually be applicable.

 

It would seem the income disparity is increasing under whatever this agenda is that BO has pursued.

 

Yep! As I pointed out in #4 above.

 

I wonder what exactly it is that the libs would want to see "fettered"?

 

No, it isn't.

You can even order it from DeepDiscount.com where it's discounted 29% off their regular price. Order it now and have it delivered to your all-white, gated-community, ultra-surburban, college-town, "top-5%-earning" doorstep. But, if you wait a couple of weeks it will be in the bargain bin.

View attachment 2486

 

... or, if you have a Kindle, download it in less than a minute and start reading it today. Enjoy!

View attachment 2487

 

Clearly, by any measure, Socialism is not the direction we are headed in and in fact quite the opposite but let's not let that stop programmed idiots from making the claim anyway. Heaven forbid.

 

This reviewer on Amazon.com makes some very good points.

Not barking mad, but barking up the wrong tree, March 27, 2014

By ​

John Butler​

This review is from: Capital in the Twenty-First Century (Hardcover)
Correlation is not causation. While Piketty has uncovered some important evidence regarding the tendency of 'capitalist' economies to grow more unequal over time, his explanation for why this is so is highly questionable. Yes, the returns on capital might have exceeded those on income on average over time, but is this excess entirely a natural phenomenon? When the monetary and fiscal authorities repeatedly intervene to bail-out risk-taking activities gone bad--say from within the heart of the banking system--then this artificially overcompensates the risk-takers, and the least successful ones to boot. And who pays? The average workers and savers, of course, whose after-tax incomes and savings thus grow at a slower rate. What appears an inherent flaw in capitalism, therefore, is not in fact inherent at all but is the direct consequence of government and central bank interference in the economy. It is no coincidence that all of the exceptional periods of peaceful 'equalisation' that Piketty notes in the book occurred while the economies in question were operating on a gold standard system, which restricts the ability of economic officials to bail-out failed enterprises through increased public debt and inflation. Referring specifically to the US experience, the surge in inequality that began in the 1970s corresponds precisely to when the US left the gold standard and embarked on a course of inflationism that has accelerated with each subsequent crisis, including of course that of 2008. In Capital, Piketty does a service in pointing out a problem with modern capitalism in great detail. But by misidentifying the true causes, he ends up offering solutions that not only don't directly address the problem, but might well make things worse.
http://www.amazon.com/review/R3HP32K78FGEKY/ref=cm_cr_pr_viewpnt#R3HP32K78FGEKY

 

I don't believe anyone here referenced socialism. I called Picketty a Socialist because, well, that's exactly what he is. You don't have a problem with that, do you?

Political views[edit]

Piketty has close connections with the French socialist party, and took part in the economic commission of that party from 1995 to 1997.
During the 2007 French presidential campaign, he supported Ségolène Royal, and was one of her economic advisors.[14]
According to a list dated November 11, 2003, he is a member of the scientific orientation board of the association À gauche en Europe, founded by Michel Rocardand Dominique Strauss-Kahn.
Piketty and Saez were named two of the 2012 FP Top 100 Global Thinkers "for making the graph that occupied Wall Street".[15]

http://en.wikipedia.org/wiki/Thomas_Piketty

 

Which part of our economic system would you suggest we "fetter"?