Reminder: When you cut taxes on the rich, the rich get richer and the gains don’t trickle down. When you invest in the American people, the middle class expands and the economy grows. It’s that simple.
@RBReich Reminder: when you go to the ATM and withdraw two hundred bucks, you get two hundred bucks richer.
@RBReich And the rich still get richer, but afterwards there’s no back sliding! Like during and after Trumps administration!
@RBReich Can you tell us all that you have built that qualifies you to have an opinion on trickle-down economics?
@RBReich Government trickle down does not work.
@RBReich Hey Robert the rise in billionaires and millionaires was the Covid handouts
In 2001, the bottom 50 percent of taxpayers paid 4.9% of all income taxes. In 2020, the bottom 50 percent of taxpayers paid 2.32% of all income taxes. Over the past two decades, the tax burden on the lowest-income taxpayers has been cut in half, decreasing their taxes by nearly $84 billion.
@RBReich In 2001, the top 1% of taxpayers paid 33% of federal income taxes. In 2020, the top 1% of taxpayers paid more than 42 percent of federal income taxes. Were the rich to pay the same share today that they paid in 2001, their share of the tax burden would fall by $159 billion.