Even Republican Voters Now Agree That Trickle Down Economics Is A Fraud

A new study finds that 40% of Republicans in America now believe that trickle down economics does NOT work for this country. This is a staggeringly large number considering that trickle down is the main backbone of the Republican Party. With more and more Republicans supporting increasing taxes on the wealthy, this could bring about the end of an era for the GOP. Farron Cousins explains what's happening.

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*This transcript was auto-generated. Please excuse any typos.

President Biden has made it clear that he is okay with raising taxes on wealthy Americans and own corporations in order to pay for some very much needed programs here in the United States. Things like infrastructure, job creation. And of course his a universal pre-K through grade 14, which is first two years of community college plan that he put forth during his address last week. And it turns out that Republicans, Republican voters actually really liked these plans because contrary to the beliefs of Republican politicians, their base doesn't think trickle down economics, cutting taxes on the wealthy, because somehow it's going to trickle down to the rest of us. They don't believe that it works and they shouldn't believe that it works because we've tried it multiple times here in the United States. And it's literally never worked on top of that several years ago, David Stockman, the man who worked for Ronald Reagan, who came up with the plan admitted, it'll never actually do what we said it would do.

Basically the plan was bogus from the start and the guy who created it even admitted it. But now according to the latest polling data, 40% of Republicans believe that trickle down economics can not work for us here in the United States. Only 30% of Republicans think it would work. So you have more who thinks it, uh, think it doesn't than think it does the rest. Uh, they're undecided. Um, I could say plenty obviously about the people who think it would work because we have historical evidence showing that it doesn't. In fact, there's been international studies done because the U S is not the only country that's engaged in treacle. Uh, trickle-down economics. Um, other countries have tried it as well. And these international studies have shown that the only thing trickle down economics does no matter where it is tried, is it increases any quality. That is the only outcome.

According to international researchers, people from other countries who have looked at it, that is the only possible outcome from trickle-down economics. It will increase inequality. It will do nothing other than that. So yeah, the fact that you still have like 30% of Republicans who still say, no, I think this is good for the United States. And then another 30 who say, I don't know the evidence is out there. The only reason you would think that it would work or may not know is because Republicans for 40 years now have been feeding. You lies about how the economy actually works. See trickle-down economics is based on quite possibly one of the worst ideas ever. And that is that the wealthy and powerful are super generous people. And I'm not saying that to attack them. But if you think about it, if you drill down to what trickle-down economics is saying, if you put more money in the hands of rich people, it's somehow going to make its way down to down to poor people that relies entirely on the generosity of the wealthy elite to raise wages, give better benefits, better hours, those kinds of things, and to expand their companies.

Something that may not even be a thing that they need to do.

So on principle alone, in theory, it doesn't even work because you have to rely on the generosity of others or the ability to expand which again, they may not need to expand. They may not want to expand. So that's what trickle down economics is. So I'm glad Biden is relegating this to the dustbin of history because that's where it belongs for 40 years, the Republican party has been telling us every possible chance they get that cutting taxes for the wealthy will put more money in our pockets. It never has. It never will. And now more and more Republicans are waking up to that fact. So where does that leave the Republican party? How are they going to continue to run on this? When a plurality of their own base doesn't even believe it anymore. It's a losing strategy for Republicans, but they haven't come up with a new idea since trickle down. So they're kind of in between a rock and a hard place, not knowing what to do, either come up with a new idea, which seems impossible for them, or keep repeating the same lie that even their base is in buying anymore.