• Rocket@lemmy.ca
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    1 year ago

    Regan? What? Are you struggling to spell (Will) Rogers? It is he who coined ‘trickle down economics’ – as a joke – and it was in reference to Hoover. Regan enters the picture nowhere. He has no connection to trickle down, housing in Montreal, or anything to do with Canada at all.

    • Nik282000@lemmy.ca
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      1 year ago

      Ronald Reagan’s economic policies, dubbed “Reaganomics” by opponents, included large tax cuts and were characterized as trickle-down economics.

      • Rocket@lemmy.ca
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        1 year ago

        Characterized by who? Trickle down economics isn’t an actual thing, just a joke that made fun of Hoover’s engineering background making him familiar with water tricking down, but not realizing that money ‘trickles up’.

    • LeafOnTheWind@lemmy.world
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      1 year ago

      Trickle down economics was not a joke to Reagan (publicly anyway). His plan called for massive tax cuts to the rich so their growth would “trickle down” to everyone else through more jobs from business expansion.

      A remarkably stupid idea that has only worked out for the rich…