Trickle up economics

[Jux]

Why do those silly idiots in parliament keep talking about trickle down economics? It clearly doesn't really work as the wealth gap just keeps getting larger.

Trickle up economics - give more to the poor. We spend it, it goes straight back into the economy and goes round again. We can't afford to save it or slap it into some long term investment etc, we need food, goods, we need to get our home fixed, we need heating, lighting, clothes.

If we have a bit more dosh, then we buy better quality food, clothing - perhaps something reallynice that our child doesn't actually need but just likes - etc, maybe a few books, or join a gym, have a meal out that isn't in a shit fast food joint.

We can pay our Council Tax without (too much!) complaint.

The money goes back into the economy. Eventually it trickles up and the rich do better but they can afford to wait. We at or near the bottom can't wait for it to trickle down.

Who is parliament is advocating for trickle up economics. I think you’re just hearing the news and repeating it. There are a few parliamentarians advocating low taxes, which is not the same trickle down, per se.

The point you make about giving more to the poor is not some kind of magic bullet. You can’t give people what you don’t have. Borrowing or printing money to give out freebies never works out. It’s what got us into this mess in the first place. Half a trillion worth of money printing to fund Covid lockdowns caused the massive inflation we see today.

The best way to do it is to not ‘give’ handouts but let people keep more of their own money. Like lowering the 20p tax rate or raising the personal allowance to £15k for example. It instantly puts money in the pockets of low earners and is the simplest way to administer. However, for this you need growth. An economy with high productivity and private sector investment. Something that successive governments of the last 25 years have failed to plan for because it’s easy to borrow and print money.