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The term itself is used mostly by critics of the concept. The Merriam-Webster Dictionary notes that the first known use of "trickle-down" as an adjective meaning "relating to or working on the principle of trickle-down theory" was in 1944, [11] while the first known use of "trickle-down theory" was in 1954. [12]
Stockman was quoted as referring to Reagan's tax act in these terms: "I mean, Kemp-Roth [Reagan's 1981 tax cut] was always a Trojan horse to bring down the top rate.... 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."
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The principle behind Obama administration's actions was referred to as trickle-up economics, [14] but the term bottom-up economics was also used for it. [15] On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act (ARRA), a $787 billion economic stimulus package aimed at helping the economy recover from the deepening worldwide recession. [16]
Basically, we found memes for all types of back-to-work situations. One thing is for sure, you are going to enjoy reading through this list of memes. Most likely, you will want to share these with ...
Celebrate Pi Day (3.14) this March 14 with some extra laughs.
Middle-out economics is held in opposition to Reaganomics, sometimes referred to as trickle-down economics. The term middle-out economics was coined by Eric Liu, a former speechwriter for Bill Clinton, and Nick Hanauer, a venture capitalist. [6] Middle-out economics is a part of Bidenomics. [7] [8]
Trickle-down theory says cutting taxes on rich people will encourage them to work and invest more, ultimately creating jobs and benefiting everyone. In reality, it increases inequality while not having “any significant effect on economic growth and unemployment,” wrote David Hope, a visiting fellow at the London School of Economics Andre ...