Thursday, December 29, 2016
5 Charts Showing The Failure Of "Trickle-Down" Economics
These charts are from the Economic Policy Institute. They published their 13 best charts of 2016, and all of them are interesting. I picked these five charts to show you because they illustrate how disastrous the Republican "trickle-down" economic policy (initiated about 1980 and carried forth by Republicans since then) has been for most Americans.
The GOP's economic policies have been great for the top 1%, and even better for the top 0.1% -- but they have not been good for the rest of the American population. And while the wage growth has been very poor for most workers, it has been disastrous for minimum wage workers.
The policy needs to be changed, but that is not going to happen. Donald Trump is a big believer in the GOP's trickle-down economic policy, and he wants to put that policy on steroids (with much bigger giveaways to the rich than either Reagan or Bush II was able to do).
The workers who voted for Trump, believing he had their interests at heart, are in for a rude awakening. The rich will get much richer, while the workers will continue to struggle to keep up with inflation -- and the wage and income gap between the rich and the rest of America will continue to grow wider.