Thread by @politvidchannel

BREAKING: new study says 50 years of tax cuts for the rich failed to trickle down

a new paper by David Hope of the London School of Economics and Julian Limberg of King's College London, examined 18 developed countries over a 50-year period from 1965 to 2015. The study compared countries that slashed taxes on the wealthy, with those that didn't.....

Per capita gross domestic product and unemployment rates were nearly identical in countries that slashed taxes on the rich and in those that didn't, the study found.

But the analysis discovered one major change: The incomes of the rich grew much faster in countries where tax rates were lowered. Instead of trickling down to the middle class, tax cuts for the rich may not accomplish much more than help the rich keep more of their riches and… twitter.com/i/web/status/1…

Julian Limberg of King's College London: "Based on our research, we would argue that the economic rationale for keeping taxes on the rich low is weak."

cbsnews.com/news/tax-cuts-…

Should We Raise Taxes on the Rich?