How To Build The Economy?
Not through Trickle-Down Economics. Tax cuts for the rich don’t lead to more investment and jobs. The only real way to build the economy is through Rise Up Economics. Trickle-Down economics don’t work because corporations and the rich whose taxes are cut invest their extra money wherever around the world they can get the highest return.
Rise Up Economics works because American workers are the only resource uniquely American. Their productivity is the key to our future standard of living and that productivity depends on their Education, Health, and Infrastructure. Just look at the evidence. Research shows that Public Investments grow the economy. A recent study by the Washington Center For Equitable Growth found for example, that every dollar invested in Universal Pre-Kindergarten delivers $8.9 in benefits to society in the form of more productive adults. Similarly, healthier children become more productive adults. Children who became eligible for Medicaid due to expansion in the 1980s and 1990s were more likely to attend college than did similar children who did not become eligible.
Investments in infrastructure – highways, bridges, and public transportation – also grew the economy. It’s been estimated that every $1 invested in infrastructure generates at least $1.60 in benefits to society. Some research puts the return much higher. In the 3 decades following World War II we made huge investments in education, health and infrastructure. The result was rising median incomes. Since then public investments have lagged and medium incomes have stagnated. Meanwhile, Ronald Reagan and George W. Bush’s tax cuts on the top didn’t raise incomes and neither will Donald Trump’s.
TRICKLE-DOWN ECONOMICS IS A HOAX, but it’s a convenient hoax designed to enrich the moneyed interests.
RISE-UP ECONOMICS IS THE REAL DEAL, but we must fight for it.