Reader Christopher Porto responds to In the fine print of Trumpcare: A huge payday for health insurance companies:
Talk about trickle down economics just repeats a common hypothetical statement that simply is not based in fact.
We have tried that for over 30 years -- deregulate and give tax breaks to companies -- and it failed miserably at creating a better economy for all. It resulted in a massive wage gap, a decrease in benefits and wages for the middle class, and actually doesn't increase economic output much. Not to mention it led to the greatest recession since the Great Depression.
Economic output and production is driven by consumer demand. Not by simply concentrating wealth into CEO's bank accounts. So we point out the facts. That trickle down economics has been an abysmal failure. And anyone proposing this failed theory should be laughed out of the room.
Not to mention the fact that this bill isn't about increasing corporate profits. It is supposed to be improving access to healthcare. But instead it puts corporate profits at a higher priority than healthcare.
Even after a period of some the highest corporate profits in U.S. history -- at a time when corporations don't need tax relief or hand outs.
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