Wikipedia

Heavy Chaos

Joined 29 January 2023
New editor, currently working on trickle down article.
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Trickle-down economics improvement

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Private ideas for improvement

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  • For a strong history section link to Reagan's taxing policies, the following in the usage>politics could be trimmed and added:
    • Ronald Reagan's former budget director, championed Reagan's tax cuts at first, but later became critical of them and told journalist William Greider that "supply-side economics" is the trickle-down idea:[1][2]

    • It's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory.

      — David Stockman, The Atlantic
    • Political opponents of the Reagan administration soon seized on this language in an effort to brand the administration as caring only about the wealthy.[3]

Recently updated

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These items were recently done. Waiting to see if any reverts, etc, before moving to the progress section.

  • Get UK examples of tax/econ policies that were called "trickle down" listed in the lead.
    • CURRENTLY IN THE HISTORY SECTION: Friedrich Hayek's economic theories have also been described as trickle-down and associated with Margaret Thatcher and Reagan.[4][5]
      • Remove after adding below suggestion sentence.
  • Suggested sentence:

Major US examples of what critics have called "trickle-down economics" include the Reagan tax cuts,[6] the Bush tax cuts,[7] and the Tax Cuts and Jobs Act of 2017.[8] Major UK examples include the tax cut policies of Margaret Thatcher,[6] the economic policies of Friedrich Hayek,[9] and Liz Truss's mini-buget tax cuts of 2022.[10]

Ancillary projects

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  • Connected articles may have no mention of "trickle down" criticisms. This should be addressed on major ones, like Thatcher and Reagan.
  • Remove voodoo economics redirect to reaganomics when to how to edit the page
  • Trickle-up economics is terrible. Should be deleted and the minimal usage that does exist should be noted in a section on trickle down article. Recently (Mar 8 2023) removed some bad sources, unsourced material, etc. Trying to prune out the crap and see what remains. There's some good stuff, but not really enough for an article. A section on trickle down is optimal.
    • This small section on Tax#Reduced_inequality is interesting. If the trickle down article must have effects of policy implementations in it, then "progressive taxes increase income inequality" is an interesting counterpoint to what is currently being pushed there.
    • Recently added a trickle up section to trickle down. Probably will add a little more than request deletion of trickle up article. Proposed text:
      • To juxtapose competing economic and political ideas, the terms trickle up and bottom up have been used. For example, the principle behind the Obama administration's actions was referred to as trickle-up economics,[11] but the term bottom-up economics was also used.[12] Biden's American Rescue Plan was also referred to as trickle up.[13] Accompanying labeling differed from most trickle down labels in that both Obama's and Biden's approaches were characterized as spending heavy programs, rather than tax cuts in any particular tax bracket.[14][15] At the same time, some criticisms of Obama's economic policy were labeled trickle up.[16]
      • [1] was reverted. Discussing [2]
  1. ^ "The Education of David Stockman" Archived December 27, 2020, at the Wayback Machine by William Greider
  2. ^ William Greider. The Education of David Stockman. ISBN 0-525-48010-2.
  3. ^ Thomas, Sowell (January 7, 2014). "The Trickle-Down Lie". National Review.
  4. ^ Whyte, Jessica (2019). "The Invisible Hand of Friedrich Hayek: Submission and Spontaneous Order". Political Theory. 47 (2): 156–184. ISSN 0090-5917.
  5. ^ "Friedrich Hayek and the left: A response to Simon Griffiths". British Politics and Policy at LSE. 2015-03-06. Retrieved 2023-02-02.
  6. ^ a b Redenius, Charles (April 1983). "Thatcherism and Reagonomics: Supply-Side Economic Policy in Great Britain and the United States". Journal of Political Science. 10 (No. 2, Article 4). The Athenaeum Press. ISSN 0098-4612. Retrieved 9 February 2023. {{cite journal}}: |issue= has extra text (help)
  7. ^ "The Bush Tax Cuts Disproportionately Benefitted the Wealthy". Economic Policy Institute. The Bush-era tax cuts were designed to reduce taxes for the wealthy, and the benefits of faster growth were then supposed to trickle down to the middle class.
  8. ^ "Trickle-down economics gets new life as Republicans push tax-cut plan". USA Today. Behind [Republican tax legislation of 2017] is a theory long popular among conservatives: Slash taxes for corporations and rich people, who will then hire, invest and profit — and cause money to trickle into the pockets of ordinary Americans.
  9. ^ "Friedrich Hayek and the left: A response to Simon Griffiths". British Politics and Policy at LSE. 2015-03-06. Retrieved 2023-02-02.
  10. ^ Elliot, Larry (20 September 2022). "Liz Truss favours trickle down economics but results can be trickle up". The Guardian. Retrieved 3 February 2023.
  11. ^ Krugman, Paul (2016-09-16). "Opinion | Obama's Trickle-Up Economics". The New York Times. ISSN 0362-4331. Retrieved 2021-09-14.
  12. ^ Talbott, John R. (2011-01-04). Obamanomics: How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics. Seven Stories Press. ISBN 978-1-60980-068-0.
  13. ^ Baron, Neil. "Biden's 'trickle-up' economics is just what America needs". The Hill. Retrieved 9 February 2023.
  14. ^ Krugman, Paul (September 16, 2016). "Obama's Trickle-Up Economics". The New York Times. Retrieved 9 February 2023. Republicans accused Mr. Obama of being a "redistributionist," taking money away from "job creators" to give free stuff to the 47 percent. And they claimed that these socialistic policies were destroying incentives and blocking economic recovery.
  15. ^ Schrager, Allison. "Biden's trickle-up economics is bound to fail". The Frederick News-Post.
  16. ^ "Obama's trickle-up economy". New York Daily News. October 5, 2014. Add it up: Obama's economy has handsomely extended the long winning streak of the rich.
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