Everything you need to know about trickle-down economics in 34 seconds
The new PM’s broad fiscal strategy can be summed up as trickle-down economics. She insists that making the richest richer through tax cuts will get them spending more, which will boost the economy – and those at the bottom of the pile will benefit.
Others disagree.
According to @TheIFS analysis, the only people benefiting from the combination of tax cuts and frozen tax thresholds are those earning more than £150,000 a year.
— Robert Peston (@Peston) September 23, 2022
I studied economics at the same Oxford college as Liz Truss and don't recall anyone there giving the remotest credence to trickle down economics. We all know it's a lie. We knew then and we know now.
— Dominic Minghella (@DMinghella) September 24, 2022
I have a joke about trickle down economics.
99% of you won’t ever get it.
— David Lammy (@DavidLammy) September 23, 2022
It's not really trickle-down economics, we're just drinking all the champagne and pissing on you 👍
— Parody Liz Truss (@LizTruss_MP) September 24, 2022
Even this guy weighed in…
I am sick and tired of trickle-down economics. It has never worked.
We're building an economy from the bottom up and middle out.
— President Biden (@POTUS) September 20, 2022
Because not everybody is entirely sure what the term means, the Exploding Heads have put together this explanation – a ‘for dummies’ guide sort of thing. It’ll clear any misconceptions right up.
A simple explanation of trickle-down economics. pic.twitter.com/ziFK0121KL
— The Exploding Heads (@Exploding_Heads) September 22, 2022
“Here’s the plan. We give the top 1% more money …”
And there you have it. A far more succinct appraisal of that mini-budget than we’ve seen anywhere else. Tweeters appreciated the honesty.
Love this… very British response, dry as the Kalahari.. https://t.co/Wnb9lfztVC
— TheMarketSniper – MBA, CMT, Trader, Teacher & TA (@themarketsniper) September 22, 2022
Nailed it….. https://t.co/CVfVnpxoBi
— Sock Council (@SockCouncil) September 22, 2022
Perfect https://t.co/hBRL734TQl
— Shaun Keaveny 💙 (@shaunwkeaveny) September 22, 2022
With the news coming out of the UK, you will hear many woke so-called "economists" deride the efficacy (or lack thereof) of trickle-down economics. But for the real truth, watch this! https://t.co/JnczfutXUm
— Arthur Fischer (Артур Фішер 🇺🇦) (@arjafi) September 23, 2022
Seems legit to me. https://t.co/UxqP5bRIPl
— Andy McLean #FBPE 🇪🇺 (@Andy_McLean) September 23, 2022
In short –
Tricle down economics for dummies pic.twitter.com/j9GSqqZDaN
— Paul Blom (@paulblom) September 23, 2022
You can follow the Exploding Heads on Twitter (of course), YouTube and Facebook or support their comedy here.
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Source @Exploding_Heads Image Screengrab