Supply-Side Economics and American Prosperity | Official Trailer

[@OutOfElmo]

For an economist, Art Laffer had massive charisma. He’s very enjoyable to watch and listen to.

[@johnbluehouse4991]

Did you that know under Ronald Reagan the US had the greatest inflation than under any other president?

[@pplr1]

He may be nice to listen to but incorporating his ideas into actual polices has turned out badly-Kansas is 1 example.

[@rayreinhard1077]

Voodoo economics

[@garyt7830]

@@rayreinhard1077 Tax and Deficit Spending 31 trillion under Biden .... and its gettting worse . with a Debt limit coming up... Its time to get a balanced Budget ammendment before Uncle Sam Needs Bailouts

[@brayan8346]

Stupidity is fun to listen to at times.

[@maxkronader5225]

The tragic fact of human civilization is that those in power, regardless of the system, would rather be kings of an impoverished and subjugated land than enlightened statesmen of a prosperous and free land.

[@robvegart]

This is why I say it begins and ends with the individual, and their approach to life (relationships, finances, lifestyle,). You have those that don't care and dont see consequence behind their action, you have those that know but can't piece it together, you have those that understand and have it all together yet are vilified for success.

[@DavidDArcyWestsideMichigan]

Funny, Reagan and Trump unleashed the power of the purse, where everyone made more money, and both used supply-side economics. There’s only one party that doesn’t want to enslave you. If you open your eyes, you’ll find the answer.

[@maypalmer]

Take this course, you will LOVE it!!! Hillsdale offers it freely online! Amazing!!!

[@lynnetx5521]

Thank you Hillsdale. The simple logic and honesty is a breath of fresh air

[@timpenner7858]

You've been duped. The logic and honesty is the same kind that wolves would use when explaining the food chain. Yes, they have every right to exist and to do what they do, but whether you're the diner or the dinner means everything. You and everyone like you are just snacks for these predators, mere commodities to be expediently consumed or discarded according to their calculus of accumulation. Thank Reagan for deregulating financial institutions to make their wealth and everyone else's hardship inevitable.

[@johnbluehouse4991]

Did you that know under Ronald Reagan the US had the greatest inflation than under any other president?

[@aln5832]

We oversaw mass inflation under Reagan. One can’t simply give mass tax cuts to companies offshore or companies that depend on Government assistance. This college is the definition of a grooming institution.

[@aln5832]

@@kian-202 Reagan’s Fed was led by a Carter official. And Reagan exploded the debt.

[@harutosunaa3881]

A breath of toxic stupidity

[@6B8RX]

I have to dispute Dr. Laffer's claim that Tennessee has a low sales tax. The state rate of 7.00% isn't too bad, but when you add on the county & city sales rates, in many places it is 9.75%. That is fairly significant.

[@ncp321]

Same situation in my current state of Oklahoma. Nothing is free. Taxing oil production at merely the rate of not-liberal Texas would provide plenty of funds to cut taxes...

[@Henrihalle]

I think he was talking about income tax

[@mikelabomusic7782]

@@Henrihalle Sales tax rate in Tennessee, Tennessee amounts to unfair, in equitable taxation of impoverished people. I lived in the state for 20 years. It’s nearly impossible to raise a family there if you’re not already wealthy.

[@kevinkelly1529]

I signed up. Mostly because I hope to find out where I, too, can get a 9-inch-wide pink tie. Not even the local Goodwill has one!

[@desertodavid]

🙄

[@jasonuerkvitz3756]

This was a moving and uplifting trailer. I certainly hope as an aging and struggling man, we can get back to something akin to a Reagan-era economy so my son might know some of the prosperity I knew as a child. I know of one president and administration that did me rather well just a small handful of years back. I can only hope he returns to office.

[@RorkesDriftVC]

Data doesn't support supply-side economics. Remember, when HW Bush raised taxes? That would have happened if Reaganomics hadn't led to massive deficits.

[@EmmanuelCampos-e7w]

Dont you give up na na na. I love the message, we're not just changing stories here we're changing lives.

[@JulioCorona-d1z]

I love the positive message, never back down never what.

[@EmmanuelCampos-e7w]

I love African Americans! Go Black or go Home@@JulioCorona-d1z

[@truck6859]

Thank you, Hillsdale.

[@debbieramsey-hanks3757]

"Knowledge is power"

[@miriba8608]

I would agree with you, but just look at the leftists. They have lots of knowledge, too. It's just the theory kind. We have to change that quote to say, "Knowledge that reflects reality is power" or something along the lines. Lol!

[@johnbluehouse4991]

Did you that know under Ronald Reagan the US had the greatest inflation than under any other president?

[@serfcityherewecome8069]

Depends upon your point of view...to the left, knowledge is POISON.

[@aln5832]

@@serfcityherewecome8069 And to the right, Knowledge is “liburl propaganda.”

[@MaRi-zp9zk]

@@serfcityherewecome8069 and yet it’s you who’s insisting in falling for the oldest tricks in the book, if you wanna know the character of this man just look at his involvement with Pinochet who’s responsible for mass murder even my family had to leave. whilst you keep thinking there’s an evil left in America, it’s people like this man that’s actually destroying capitalism, because we don’t have to hurt people in order to make money, ur seeing him here cause the Chicago boys are out of power in Latin America so they can’t steal, but what’s appalling is how he’s now back to trying to screw the working and middle class in the US, I think the American people have no idea what’s to come here in America, look at all the signs, the clues, they now can usher foreign money to pay for referendums in American states, now seriously, do you think these foreign investors will have Americans best interests at heart? Or it’s more likely that it will become easier to get more corruption here, as if we don’t have enough with the current 2 parties, now they want to import corruption? Again… innocence has a limit.. u do not want to live in a truly failed state, specially because we have a very polarized country right now, and they are armed to the teeth, so if the economy collapses big, and inequalities skyrockets, the US is in more danger than even any other country in the continent, just because of the huge numbers of guns, and here we are, kicking down each other, we will regret this.

[@Henrihalle]

Thank you, well presented course

[@dianajones8598]

Right on! God Bless America and American ingenuity. 🤲🚜👏👏👏👏🏁🏁🏁🥳🥳🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🏡🎉👋👋👋

[@courageunitycompassi]

In I’m 2008 the private sector crashed the economy and asked the government to save them.

[@crescentprincekronos2518]

You sure the ones doing the saving weren't the ones setting the rules for failure? Human nature, the government wanted the private sector to bail them out of regulating the economy into ground.

[@johnlast6066]

Actually the left crashed the economy in 2008 and uneducated people like yourself believed them.

[@AllWeather-xb9sg]

They only crashed because they KNEW the government would save them.

[@HashimWarren]

how does this thesis fit with high tax, prosperous nations, like Germany and Singapore? Thanks

[@timpenner7858]

Don't forget Norway. It doesn't fit because it's a hoax.

[@timpenner7858]

@@desertodavid Someone who politely asks a good question is not the definition of a troll. Your response sure qualifies you though. And then there's the "wherever you came from", a nice racist jab at a man of colour who has the temerity to expose his face and use a name that doesn't show up on your family tree. I'm sure the video producers greatly appreciate your considered support.

[@martymarl4602]

Greedy American Businessmen love to look down on homeless and say "why don't you pull yourself up by your bootstrap"...it makes them feel very good about themselves...Empathy for the poor is for losers, they would hate the jesus they pretend to worship on Sundays...

[@joshuahawkins9847]

Singapore has a lower corporate tax rate than the US

[@marlinbethea-gullap4666]

the U.S. is a relatively lightly taxed country, with an average tax burden that is lower than Germany’s by more than 10% of GDP.7 Second, in the United States, consumption, labor income and capital income (that is, business and property income) all face a lower tax burden than in Germany. Third, the low tax burden on capital income in the United States is driven by low taxes on personal income, and not, for the most part, by lower taxes on business and property income per se. Indeed, U.S. corporate taxes generate more revenue as a share of corporate income, and hence may be viewed as more burdensome, than German corporate taxes, thus creating a greater incentive for U.S. corporations to shift profits to low-tax jurisdictions. Fourth, as their proponents have argued, the GOP proposals would likely lower the U.S. corporate tax burden to a level more in line with that of OECD nations such as Germany. Fifth and finally, effective average tax rates on corporate profits are significantly below statutory tax rates in both the United States and Germany

[@jellybeanparis584]

Tax Cuts increase Spending & thus increase the IRS’s Revenue. I was 16 when I discovered Governor of CA Ronald Reagan, & in January 1985 I had the pleasure of attending all the Festivities in DC for his 2nd Inauguration, although there was a blizzard & freezing temps which altered that week, I went to one of the Inaugural Balls (there were 9 in-total) & fell outside on the Ice. That was so embarrassing for a 23yo but worth every minute ! I was invited by the Massachusetts Republican Delegation but lived elsewhere. Sidenote, I live in LA & go to Reagan’s Former Church ⛪️

[@truck6859]

I was 12 years old in 1985, but I did see what great things Reagan was doing for the country. 🇺🇸

[@HashimWarren]

So you're referring specifically to income tax cuts, not sales tax?

[@jellybeanparis584]

@@HashimWarren - Sales Tax is not regulated by the Federal Government, only by each Individual State

[@HashimWarren]

@@jellybeanparis584 so how does an increase in spending increase IRS revenue?

[@desertodavid]

@@HashimWarren do your research please. Even if we told you how reducing taxes would increase Revenue you wouldn't remember because you didn't research it yourself.

[@barnabycat7002]

It's amazing anyone buys this as anything other than a failed curiosity.

[@maureenm6090]

HI KONSTANTIN, I'M happy to hear you have outreach news

[@brewmorgan8942]

Fantastic...

[@stevenjordan9497]

OUTSTANDING!!!!!!!!!!

[@Pet.Wifey.Voice.Of.Reason]

That settles it, I'm going to move to Tennessee. In the meantime, I will sign up for this course. Thank you so much, Hillsdale! Holy cow, I love you guys.

[@rayreinhard1077]

Among mainstream economists, Art Laffer is to economics as Dr. Pepper is to medicine.

[@matthewstaton6810]

Okay, but what about his points?

[@strings2864]

@@matthewstaton6810 which points? honestly I'm just seeing assertions

[@abplumbing8734]

Well You've said it "Mainstream Economist" you mean like "Jay Powell" (""We now understand better how little we ("me") understand about inflation"- Jay Powell Chairman of the FED), and Janet Yellen, etc. the ignorant Harvard grads that only get a degree but know nothing of factual, and real down to earth "How the world works". I learned Basic Economics in Junior high back about 50 years ago, and all these so called "Economists don't even understand what is the basic of basic economics. Main Stream media has fooled a large swat of the culture and population into foolishness, believe what you want but facts (Not fabricated data!) do not lie

[@californiaslastgasp6847]

@@abplumbing8734 What books did you use in junior high school to learn economics?

[@abplumbing8734]

@@californiaslastgasp6847 Well California, I sure wish I could remember, but my Dad moved us to Mexico, and that was in 8th grade, as I said that was over 53 years ago, I remember principles, but not the book used, the phrase- " The law of Supply and Demand", stuck with me immediately because how logical it was. , I memorized the five basic principles of economics: "Scarcity, Supply and demand, Marginal cost, Marginal benefits, and incentives. these apply to education, as well as other parts of the culture. Great book; The way the world works, Jude Wanniski, is a good read and eye opener for modern thinkers. A free Economy is always a thriving economy

[@jamesmurdock4830]

This really should be taught in High Schools.

[@darthvader5300]

Your leftists will not allow that for it will expose their LYING NARRATIVES AND LYING IDEOLOGIES.

[@NYyankeeboi]

It will never happen. The last thing they want is for people to know how the system works.

[@pplr1]

Laffer bears some responsibity for screwing up the Kansas state budget. That anybody has him teaching anything related to economics or budgets is very questionable.

[@wdvest8333]

And yet tx can't keep the lights on

[@user-nu8in3ey8c]

I like the ideas of the Laffer Curve, but there is a problem: Automation, outsourcing, robotics, and illegal immigration has largely reduced the number of jobs so severely that if you too everyone off of welfare, out of homeless shelters, and forced them to work, all of a sudden your wages would be competed nearly to zero. In theory that lower labor cost would reduce prices, but some items and food are inelastic in their prices because their driving cost is materials rather than labor. "Fend for yourself" works when robots and outsourcing isn't killing all the jobs. Your average robot will happily(or at least without complaint) work round the clock, demand no health benefits, never ask for a raise, never quit, never complain, never take maternity leave, never get sick, and only briefly need repairs while only asking for electricity which costs mere pennies. Good luck competing with general purpose robots, especially when they become more common. Even if general purpose robots don't become common, many special purpose robots will eventually be more common.

[@Jmattt7194]

Then become a person who makes those robots. Like it or not, America is heading to be the country of finance and banking, not production. It will become a land where people are thinking above themselves, innovating new ideas like Rockefeller, Carnegie and Ford did. The people will gain a new interest in inventing a better world for everyone. Innovation is coming for us.

[@user-nu8in3ey8c]

@@Jmattt7194 Realistically the majority of workers lack the capability, or opportunity, to innovate anything. There are few openings, and very high barriers to entry for those high paying tech jobs. When we lose our jobs, because illegals and robots do all of the work, shutting off the welfare will result in a lot of dead Americans. It is sad, but true. You can't cut social programs after gutting all of the jobs without expecting large numbers of deaths. Globalization and automation has all but destroyed the American worker, and more automation is on the way.

[@LowcountryJoe2]

I want to know how Stephen Moore (founder of the Club for Growth and co-writer of book with Julian L Simon) can possibly still embrace the free market after sidling up to DJT. It's like everything he once stood for was tossed overboard when he served in the last administration. How will he undo all that?

[@johnbluehouse4991]

Did you that know under Ronald Reagan the US had the greatest inflation than under any other president?

[@johnlassen1083]

Any chance you could elaborate on that? 🤣

[@andrewwells8558]

Presidential Medal of Freedom: Trump awards Art Laffer. Obama awards Ellen Degeneres.

[@danarose6314]

And Jim Jordan and Rush L.-a distinguished bunch!

[@aln5832]

President Medal of Freedom awards from Obama: Warren Buffet, and Jan Karski, a Polish resistance fighter. Under Trump: Rush Limbaugh, Gary Player (Golf player).

[@danarose6314]

@@aln5832 Actually Gary Player has done a lot of philanthropic work in South Africa.

[@aln5832]

@@danarose6314 And Ellen Degeneres’ philanthropic activities has donated millions of dollars to fight world hunger, cancer as well as bullying. Her charity helps to fight hunger in the United States.

[@pplr1]

And Ellen, despite all her problems, has probably been better for other people.

[@nthperson]

Back in the late 1980s when I was in graduate school, I communicated with Art Laffer to find out what his position was regarding the wisdom of taxing rents associated with locations and other natural assets as distinct from the taxation of income earned producing goods or providing services, as distinct from the taxation of tangible capital assets (e.g., buildings, machinery, technologies) and commerce. I was rather disappointed that he failed to see the importance of this distinction. In that sense, his understanding of supply-side economics is (in my view) flawed. Also at the time I began to study the writings of then University of California economics professor Mason Gaffney. Gaffney's later challenge to mainstream macroeconomic theory struck me as far more valuable as a path toward policies yielding full employment without inflation; and, as a side benefit, significantly taming the economic cycles of boom and bust.

[@eugenecbell]

Let’s do it!

[@MRSketch09]

Link in the description doesn't work... needs fixed.

[@grady_young]

This would be a great video if productivity, and thus income, was the most important factor in actually making people happy. But the psychological research is very clear, income is one among many factors that makes someone happy and not the biggest. Good relationships are what make people happy. And unfortunately vast income inequality is an antagonist to good relationships in a society.

[@Halicet]

The problem is the mechanisms in this video don't build wealth for anyone but the wealthiest individuals. It actually reduces overall wealth, increases the wealth divide, and funnels wealth away from those with currency assets, disproportionately affecting the poor and middle class. You are right though... people have lost perspective of why business and the economy exists in the first place. The primary purpose of business and the economy is as a mechanism for the distribution of labor, services, and materials in society so that the quality of life for all participants can be raised... Not to make money or create personal wealth.. The ultra wealthy become so by manipulating, and breaking the system for their own purposes.. Either by force, manipulation, or regulation.

[@hufficag]

I'm not in favor of taxes but I'm also not in favor of runaway profiteering with zero regulation. What happens when people can't find jobs and can't afford shelter. One solution is for those people to disappear, die off, and maybe that's what the people have in mind whose capital is tied up in real estate. But I would love to hear a better solution than death.

[@teresaleake4777]

Thanks for sharing this ❤️

[@jakemoseley1811]

Supply side economics has made rich people much richer but it hasn’t trickled down very much. Maybe we should increase their taxes a bit to send some of the money to the rest of us.

[@garyt7830]

Because you need to GET off Your A$$ and work, save and Invest .... when You own your own then you can hire others for you

[@jakemoseley1811]

@@garyt7830 Gary T wealth inequality in the US declined from 1930;to 1980. But after Reagan was elected, after supply side economics became a popular political belief, wealth inequality increased. Did Americans get lazier after Reagan was elected?

[@robvegart]

Did you know there is no such thing as trickle down economics. It was a phrase coined by The Economist in mocking George W. Bush, and some how became a household word. Just like transgenderism is now. A thing that was taken out of context for argument sake.

[@garyt7830]

@@jakemoseley1811 Jake you want checks from the Governent,, people paid to not work .... YOU make no sense at all .... IF you Save, Invest, Build, Help others ou will have prosperity . .. Your inequality is geared to people that do not want to get ahead . You can see it .... I had nothing giving to me, and A person can learn ... I know ART Laffer, and he is the BEST Economist to come in the 20th and 21st century .

[@blacksabbathbyblacksabbath6841]

@@jakemoseley1811 its because america went from a creditor nation to a debter nation nothing to do with supply side

[@echo4749]

1:23 Reagan was so inspiring.

[@jamesdeschenes1412]

Then why did tons of manufacturing companies move overseas?

[@JohnAdams-mu7xd]

Tax's are criminal........

[@Halicet]

Taxes are the price of living in a civil society with a high quality of living, and essential public services. People who do not believe that, are either unethical individuals who are deluded enough to think they are somehow an island of personal prosperity with no support from their community, individuals who are brainwashed by groups of individuals put this doctrine out because they stand to massively profit off of others by lowering taxes (the ultra wealthy), Individuals who are purposefully trolling because they know how the system works and are willfully putting out this tripe in an effort to profiteer on it, or those that have no functional understanding of how society or the economy actually works. There is a difference in responsible taxation and irresponsible taxation though. It is a necessary mechanism in society for funding public services, circulating wealth in the economy so it doesn't pool into the possession of a small few (highly detrimental to any healthy society), and it keeps inflation in check by funding public services without the need for debt monetization.

[@StevenDykstra-u3b]

The Laffer Curve as it applies to taxation may be true, but in the context of the fiat effect from unaccountable off-budget federal borrowing and spending negating the non-interest program value, so that apart from T-bills (etc) nothing is gained from deficit financing and all forms of revenues, well, it is a nice theoretical observation, but of little practical consequence by comparison given the context.

[@fsirjyy147]

Supply and demand its not a system its a way of living. Low supply or competition high demand= High Value or price. High supply or competition low demand= Low prices. High Supply or competition high demand= could mean 1 or 2 things stable lower prices or stable increase over time just depends on the situation.

[@PaulTheSkeptic]

So, academically speaking, the basic principles of supply side economics is sound but that does not mean cutting all taxes as much as possible all the time is always good. Too much taxation leads to stagnation but to little government spending also leads to stagnation. Both supply side and demand side are important. They should swing like a pendulum in a healthy economy. And yes, Reagan cut taxes. And employment stagnated. Cutting taxes does not create jobs, increase demand and it doesn't even increase spending that much. But provide education, people get better jobs and they spend that extra money helping everyone else. Same with healthcare, social safety nets, science, the humanities and even the environment. Spending helps real people. Not just rich people. And then, Reagan raised taxes. To his credit. His advisors were predicting a recession so he raised taxes again after his initial cuts.

[@earllsimmins9373]

Keep supply short keep prices high then if your not making enough money ask for a government subsidy, tax break or bailout.

[@courageunitycompassi]

Regan raised taxes and expanded the deficit.

[@Jkirk3279]

Reagan ran on cutting the National Debt but Tripled it. He also granted Amnesty to millions of illegals, causing a flood of Scab Labor and the Crash of 1987.

[@wayneshingler9664]

"Have you ever heard of an economy being taxed into prosperity?" Yes. United States of America in the 1940's. Government spending on arms manufacturing kicked American manufacturing as a whole into high gear, enough to pull us out of the Great Depression. When American servicemen came home after the war, those factories didn't close. They shifted to producing consumer goods like cars. Between the (tax-funded) G.I. Bill and union factory jobs, the American middle class grew and working people prospered. We had about 25 years of prosperity as a result. Let's do that again.

[@grocerygoat06]

The US was backed by the gold standard then; today, we have the petrodollar and a consumer-based spending economy.

[@DKGreenlein]

Tennessee sales tax for non food purchases is high.

[@GregoryTheGr8ster]

No, an economy can't be taxed into prosperity, but you need to focus on what the government spends the taxes on. Government can raise taxes by taking from the greedy, and spend it on a high-speed rail system that would criss-cross the country. This would create jobs, and would make pollution-free transportation available to all. Now *that's* prosperity!

[@GregoryTheGr8ster]

Plus, taxes and government spending are democratic. Tax revenues are spent in accordance of the will of the people, rather than the will of greedy psychopaths who care only about profits.

[@martymarl4602]

Thank you...He thinks everyone they are helping are strong 22 year olds in perfect health...The greed of these people is unreal...btw, some Rich people take bail out money and PPP loans to buy bigger yachts and show off to each other ...then get it forgiven while saying they can't increase wages...disgusting

[@matthewstaton6810]

@@martymarl4602 Yeah... and I know of MANY non-rich people who took out ppp loans to buy expensive cars to show off to people.... then went to jail. It's called terrible humans. You don't have to find a rich person to find a terrible human. They're all around you.

[@calforman]

Your Goofy ..... If I work hard, why should I pay higher taxes to pay peoiple that are Lazy Like you !!! than you talk about Spending on a Rail system to change the Subject .. Have you ever seen AMTRAK

[@calforman]

@@GregoryTheGr8ster THEY should cut Income taxes to flat tax 13% corporate taxes to 20% ... Slash Welfare in Half,,,, cut the Attorneys, Medicine budgets in half,,, tort and regulation reform. close BORDER to Illegals and bringback Jobs from CHINA that belong here. . You dont work,, you dont eat .. you dont get anything . THE DEMOCrats are the Greedy Ones wanting something for nothing .. We should give to the real Poor and Veterans , that deserve it .. If Your in Jail ,,, you work on a farm ,

[@clintonstumpf5210]

"Socialism is an alternative to capitalism as potassium cyanide is an alternative to water." Mises Interested in watching but true free market capitalism is still better than Interventionist Supply Side Economics

[@ronaldanderson6481]

Very true in automobile sales. stop the subsides for EVs , let the market be free.

[@johnbluehouse4991]

Did you that know under Ronald Reagan the US had the greatest inflation than under any other president?

[@robvegart]

🤣🤣🤣👍

[@79Fbanana]

Keynesian economics dressed up as low-tax free market economics is the same Keynesian economics of democratic socialism. Its all just fake politicians trying to move the aggregate demand curve while pretending to know what they are talking about.

[@ryannada1987]

The people who reject state intervention into the economy are either stupid, misers, or both. Loving the free market is stupid. Climate change alone destroys the free market. This “free market” is a devotion to idiocy and self destruction to enrich a tiny few.

[@Nick-tt2rh]

This theory is all about trickle down economics and it’s the biggest hoax ever played on the American people. Also usually advocated during times of economic downturn, which it is safe to say is upon us. Wealth inequality has utterly skyrocketed and median incomes have stagnated since Ronald Reagan cut taxes for the wealthy in the 80s. The highest tax bracket was 90% during the 50s and 60s housing boom. Oh yes, this is also back when infrastructure was being built. Today, business continue to post higher record profits than EVER recorded in history. Strengthening the middle class and everyday working people grows the economy, not billionaires.

[@serfcityherewecome8069]

🤣🤣. Name a SINGLE idiot who actually PAID that 90% tax that was on the books back then...they just dumped the money into useless tax SHELTERS to rot instead of INVESTING it in economic EXPANSION. Funny how tax revenues DOUBLED after the top rate dropped from 70% to 28%, isn't it? 🤔 Only AOC types are stupid enough to believe that tax revenues will increase 100-fold if you raise everyone's tax rate from 40% to 4000% . 😂

[@Jkirk3279]

I think we’ve seen enough; cutting Taxes on the Rich increases the Deficit and hurts the Economy. Investing in America increases Employment and grows the Economy. Go ahead; let everyone who invests in American Companies take a tax deduction…if they hold the investment for two years.

[@otherperson]

Yall ever wonder why it's always rich dudes in suits and stuffy rooms that are trying to sell you this stuff? Why it has such a high production value? Ain't that like, kinda weird?

[@SSJBartSimp]

"Have you ever heard of an economy being taxed into prosperity?" The United States circa 1930s-1970s.

[@darthvader5300]

Explain the details. And how it is connected to the FDR New Deal Regulatory Economics. Just curious.

[@SSJBartSimp]

@@darthvader5300 I'm not sure what you're asking, but yes, taxes were substantially increased under FDR to fund social programs and wealth redistribution initiatives.

[@Halicet]

@@darthvader5300 The average citizen in the US during the 1950s and 1960s had the highest wealth and standard of living (not accounting for technological advances) than any other period in the US. At that time the growth of the middle class was at an all time high. Also at that time, the wealthiest individuals in the country were paying as much as a 97% tax rate which massively reduced Debt Monetization and currency inflation. In the mid to late 70s the US experienced an artificially created recession due to conflict and politics in the middle east creating OPEC oil embargos on the west. The lack of oil slowed down the economy and created a recession, the economy itself was not unhealthy, it was only suffering from a lack of essential resources. The wealthy took the opportunity to leverage the ignorance of the people into blaming the stifling of the economy on the taxation rate, and reducing taxes on them through new economic policies such as Trickle down Reaganomics. From that point on, the expansion of the middle class reversed, debt monetization exploded to make up for the tax deficit, personally held debt by individuals exponentially increased, and an ever increasing wealth gap has developed. The end of the oil embargo and supply issues of the 70s and the internet phenomenon both served to mask this trend from people by adding large amounts of wealth to the economy itself, but now that that has normalized we are no longer seeing it's masking effect on the massive faults in our economy. I realize your question was about the connection to FDR's New Deal economic policies, and I guess other than the huge investments in US infrastructure, and the large increases in taxes to cover social welfare programs and war debt I'm not familiar enough with them to give a further answer. Becoming the worlds reserve currency and having oil prices based on the USD, along with the massive increase in US Gold holdings also had an affect in the economic success of that period as well.

[@dandork20]

Why would a college need a curriculum "trailer"

[@abbysmith1148]

Yes, taxes are onerously high and oppressive and cause economic stagnation. But lowering taxes is only beneficial if you do it fairly throughout economic brackets. Establishment Republican politicians only significantly reduce tax rates for the wealthiest percentage of the society, while leaving middle and professional tax rate almost unmoved.

[@Phabic]

Why is his tie so big

[@JW-lt1ws]

The modern Southwest wouldn’t exist without the tax dollars that went into harnessing the Colorado River. Your internet, computer, and cell phone-along with the satellite system and the quantum efficiency leaps delivered by advanced digital architectures-would not have gotten off the ground without both the Cold War defense and NASA budgets. And then there’s aeronautics and agriculture-two sectors that required significant government aid to become profitable industries with deep benefits to society, unless you don’t fly or eat. Consider the expense of running our legal system, which is crucial for protecting private property (think capitalism). How about roads, bridges, and electric grids? How about bringing the South out of the Stone Ages with the Tennessee Valley Authority? And, of course, the military ain’t cheap-especially Reagan’s Star Wars (SDI). What about the military costs of protecting and expanding overseas supply chains so that our free market can function? Last but not least, we need money to bail out red states after hurricanes, floods, and tornadoes. Which is to say: to deny government’s role in creating the conditions for economic prosperity is as naive as a Leftist advocating for central planning. Be careful with anyone who peddles only one side of the story.

[@harutosunaa3881]

3 million Americans dead because of Supply Side Economics and its consequences

[@ShadowMind312]

We are headed towards extreme mercantilism. So exports will become a huge part of USA economy

[@lifemasterkris1865]

“What is a woman?” “What is a recession?” “What is really, really stupid?” I’m sure you know the answer.

[@georgegeller1902]

What are your pronouns?

[@lifemasterkris1865]

@@georgegeller1902 Mine are Lord, Master and Magnificent

[@Jkirk3279]

A woman is a human being with two X Chromosomes. Please note that some individuals are XXY, so your mileage may vary. A Recession is defined as a period of Economic contraction, with two consecutive quarters of job losses. Please note that Right Wingers are apt to change definitions on a whim, and insist that low unemployment and brisk job creation equals a “Recession” if their Cult is not in power. “What is really, really stupid”; believing what a Cult tells you instead of researching established facts.

[@brandoss9179]

California

[@RyanProvost]

It’s easy to have a $2B surplus when you’re the nation's 18th most federally dependent state. It’s easy to have a $2B surplus when 40.28% of your revenue comes from the federal government. Seems more like theft of taxes collected by other states to me. Laffer's model is dated and broken, and the market has proven that after a decade of embracing it under Reagan and through much of the 1980s. This thinking infested society and led to the world's second-largest market collapse (Black Monday, October 19, 1987). This is a model to be studied, not embraced and reimplemented. Laffer is a well-spoken and entertaining salesman, but please be intelligent enough to recognize when you're being sold a shoddy bill of goods.

[@sarahrogers9464]

We literally had higher taxes at our most prosperous times... The 50-70s. Reaganomics has been tried and failed. Good try with the propaganda.

[@desertodavid]

Sarah Rogers oh my God, if you think we had a better standard of living during the 50s through the 70s, Look at a graph of the Consumer Price Index (CPI) and you will quickly see how misinformed you are! The economy was in shambles and this is the reason Ronald Reagan got elected and re-elected in a landslide in 1984. Stop trying to Gaslight us

[@sarahrogers9464]

@@desertodavid what? Ok so I checked the CPI in good faith to see if you were correct... And no! The CPI throughout the 50s-60s remained relatively flat. At a stable rate. It wasn't until the late 70s that the CPI increased due to the middle east raising oil prices on the entire world. The entire world was suffering inflation at that point. Just like now. Sorry, you are wrong.

[@desertodavid]

@@sarahrogers9464 yeah I was mainly talking about the seventies when the CPI plummeted within Reagan brought it back up during his eight years. So I don't know where people get the idea that Reaganomics as you call it was a bad thing. The us economy grew during the '80s. Maybe you just hate Republicans? Tell me did Putin cause today's high gas prices?

[@robvegart]

You can thank a good portion of undisciplined Americans who lend themselves this way of thinking that we are nothing without the administrative states way of doing things. No one knows how affluence makes better than the private private citizen engaged to do so not the enabled private citizen with no discipline to do so. Another on going propped up lie by the common consensus thinkers of the administrative state way of doing things. Kennedy did the same things and was successful.

[@danarose6314]

Tennessee-bottom 13-15 in poverty. That's how they save money. Go figure.

[@robvegart]

Oppression is the true purveyor of poverty. Poverty in America lives better than 3/4 of the world's populace. We are not an oppressed people, except from the soul and not like general worldly consensus will have believe. If that common consensus were so, 82% of America's affluent would not have a chance. It would be more if people were thrift of the heart. Redistribution does not make wealth, discipline with perseverance does.

[@frankblank8863]

Yet if you look at countries that adopt supply side economics, the only consistent result is that money always moves from the working class to the rich. Look at a graph comparing productivity to wages over the last century. Usually when one went up or down, the other did the same. then all of a sudden at 1980 wages went pretty much flat. This video is nothing but propaganda. No economist with a room temperature IQ would endorse it, unless they were handsomely compensated.

[@wojtek9675]

No, the wages went flat in 71 when Nixon got rid of the gold standard. Not during the 80s

[@ryannada1987]

Increased taxes can increase economic growth if you invest that money in the right ways. Like alleviating poverty by putting money in peoples pockets, instead of letting the rich hoard it all. We have an economy right now that can’t prosper because most wealth is concentrated at the top. You had your day. It was 1980 to 2008. Now we know unfettered markets lead to ruin and catastrophe but you do get a stupefied plutocracy out of the deal. It’s just stupid and nobody’s buying it anymore, and you know that.

[@hipoint40cal39]

Since Reagan.....

[@muzzyizzit350]

Have you ever heard of an economy that is taxed into prosperity? Yes, all rich countries.

[@pezpeculiar9557]

The theory named after this guy became highly discredited after economists started actually testing it 😂

[@tyronewilliams3634]

Disastrous!

[@keithgood2387]

If you don’t make things out of dirt, all you have is dirt, a dirty, a way of saying supply side economics

[@marcus.guitarist]

I hope you guys are right but I think we have reached the point of no return.

[@MrBigR928]

Absolutely 💯🤔

[@Halicet]

I had to find this commercial on youtube after seeing it as an ad on another video. This whole premise is so disingenuous. Micro and Macro markets do not work in the same way. You can't just say that Tennessee cut their taxes, or Delaware, or Wyoming cut their taxes and suddenly found themselves cash positive. It happens because the same concept of a mud puddle. You make one small area lower than everywhere else, and that's where the water collects. Make everywhere that low, and the water doesn't collect anywhere. It's a monetary policy that only works for small markets when applied unevenly over a much larger market. It's the same reason The Netherlands found themselves neck deep in drug problems shortly after they legalized soft drugs, but before any other western nation followed suit. A massive number of drug users migrated there. As soon as they put limiting laws, and other nations reduced the illegality of soft drugs, the issues reduced significantly. The truth is, that this policy only works for the super wealthy as a means to become even more wealthy. History has shown over the last 40 years of low taxes and trickle down economic policy that lower taxes on the wealthy is either invested in capital investments (where it can't be touched (aka taxed) until actualized through sale, which can be supplemented with other costs to turn it into a loss... a tactic not available to less wealthy individuals), or it's paid out to corporate shareholders as dividends (shareholders that are by far, predominately wealthy individuals). The main thing that happens from a low or dare we say insufficient tax rate, is that the country gets into a cycle of debt monetization, printing currency to make up the difference between spending and tax intake. This causes inflation and the devaluation of assets held in currency, which is primarily done by the poor, and middle class, while capital assets maintain their real value and do not suffer loss with currency inflation. That then increases the interest payments on the debt service to the National Reserve, increasing the profit margin of the reserve banks, and their wealthy share holders. The whole thing is a pyramid scam, meant to shuffle wealth to the wealthiest people, and keep it there. The American middle class was the wealthiest it's ever been in the 50s and 60s, when tax rates were as high as 97% for the wealthiest people. Business was booming, and the middle class was cash flush and able to sustain good lives. The wealthy either paid the tax, or spent the money on tax shelters such as spending the funds on things like public good projects, social programs, increased employee wages, good pension programs, etc.. Markets will always adapt to the free spending currency availability in it. If you take 70% of the cash out of the economy through taxes, then pricing adjusts to the 30% remaining in private circulation. Trickle down economics is a smoke and mirrors game that only benefits the ultra wealthy, and those that are smart, prepared, and have enough free money to wisely invest it in the market (but without the knowledge, advice, and connections that the wealthy share). The lower upper class, middle class, and poor all suffer in the long term. Fractional banking is another massive pyramid scheme that robs people of wealth. Lowering taxes, debt monetization, and fractional banking all do the same thing. They create excess currency circulation to give an illusion of abundant wealth (which can be good for building and investment), while not actually creating more wealth, and all at the expense of the poor, middle class, and future generations who enter the game with a handicap right from the start. It's all monetary illusion, that only works until people realize it's an illusion, and stop believing in it... Which is an inevitability considering the wealth gap and financial hardships it creates become harder to hide or dismiss with time. Going back to this commercial, the ultra wealthy make their money by deceiving people who are unaware of how the system actually works. This guy is making money primarily off of selling his program, and monetizing in ways that are unavailable to most people. They spread this deceit because the more people that vote for lower tax rates because they are strapped for cash, and think it will help them make ends meet, the more money these people can make off of you. If you want a society that is building wealth, then we need to address the issue of the majority of wealth being funneled to a small group of people. Massively increase taxes on the wealthiest individuals and corporations, sustain lower rates or reduce taxes on the middle class and poor, put a check to fractional banking and unreasonable usury fees on lending, install policies to curtail the cult of Jack Welch (Welchism) on wall street giving companies a reason to invest in their products employees and customers again over shareholders, increase small business share in the economy by coming down on monopolies and near monopolies with an iron fist and breaking them up, fix patent and copyright law to sunset patents earlier and make patent trolling or blocking illegal, drastically reduce or eliminate debt monetization as a substitute for taxes, and ultimately end the federal reserve by returning currency regulation back to the state. All of which will cause hardships of differing types at the start, but lead to a much more robust and healthy economy. Economic policy is like food. If it hurts at the beginning but is focused on long term prosperity it is healthy economic leadership...like eating vegetables. If the policy creates immediate prosperity in the economy at the cost of future infrastructure, quality of life, wealth building, etc... then it is the junk food of economic policy and very much poor economic leadership. Right now.. America is operating on junk food economic policy left and right, destroying our long term economic health for an immediate illusion of wealth.

[@kqh123]

Has he paid Schiff his penny yet?

[@debrahoward3961]

The truth be told , politics are a name for the enemy of anyone who thrives, political leaders used the wisdom of the Mafia, men who were united in business and wealth. Political leaders who call themselves a government seek to rule therefore creating laws and to this very day their descendants carry on the same deception of ruling individuals world wide for their own personal wealth, nonetheless, the world is immunized to the days of old and are becoming all the more wiser, therefore, it's apparent that using the ideas and concepts of others for personal gain is null and void in society world wide, and unfortunately, many of us are going down with the very ones that we trust and continue to vote for, it's a case of the pied Piper, the blind leading the blind,. China will not accept the continuation of the foolishness. The descendants of liars will have to be ready to face the consequences for their own actions and admit to the world that they have for centuries claimed victory and success at the cause of millions of human beings suffering

[@robvegart]

The problem with supply side economics is that it requires true sovereign able bodied people to make it work. Not elected sovereign individuals, but private sovereign bodies whom are 'willing' to do for themselves, their family and their community. Taxation to a point for use, is a good thing. Taxation after the point of want is a bad thing, and is theft. It takes a true sovereign citizen to be the fabric of We The People. Today, not all We The People are We The People...Usurpers among the private citizenry are not We The People, but more so an enemy domestic. In America this anti-body of We The People has grown. Changing out the politician will not help if the electing body has been compromised morally and spiritually. America has strayed! to the point of where the usurper among the private citizenry has taken over.

[@tiffanyq.6004]

True, but what is the fastest way to get people to work? Take away their handouts and cut restrictions on businesses. That is exactly what Trump did and our economy took off. Unfortunately the now installed president believes in handouts by the trillions and making more restrictions on business, but to an extreme. This is why we are where we are. Another factor is to drop all of the nonsense rhetoric as a leader and focus on encouraging people to become self-reliant, not dependent.

[@robvegart]

@@tiffanyq.6004 It's deeper than that and beyond Trump.

[@jellybeanparis584]

@@tiffanyq.6004 - Perfect Explanation of the Truth 🇺🇸

[@pneumarian]

@@robvegart Though I think Tiffany has a point, the dexter hand of that point is what you said; it's going to take both, but it's the moral revival which has to start the reversal of failure, while all the cuts can only hope to slow the failure of society.

[@robvegart]

@@tiffanyq.6004 Absolutely!!! AMEN!!!!!

[@eagleholyengel9198]

👍👍👍

[@maxkronader5225]

Those who support income tax apparently believe that you can make people prosperous by taking money from them.

[@daveminer9217]

A million 👍's Up!

[@dandork20]

"Reagan cut the tax rate... we made ourselves a production haven for the world" - which was immediately followed by all production being outsourced to China & Mexico. Your opening line in this "trailer" for a "college" is laughable.

[@mikelabomusic7782]

This man is a liar. He grew up during a time of prosperity that was created through taxation. He is intentionally eliminating that fact. Secondly, the people of Tennessee rank among the lowest quality of life, education, infant mortality, and dependence on the state to meet their needs. These are not things to admire, and they do not indicate prosperity. They indicate wealth accumulation by a state that claims to be economically conservative.

[@patriotfour3374]

👍

[@darkroom3116]

You just bragged about a welfare state “surplus”. I think that sums it up 😅

[@petdoctor3]

This is propaganda and lies