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Trickle-down economics proves to be economic growth killer

Image: ipolitics.ca
A surprisingly strong report just released by the prestigious OECD may cause the public to regard neoliberal snakeoil salesmen peddling a trickle-down scam more skeptically in the future.

Related rabble.ca story:

Columnists

Trickle-down economics? It's a scam, confirms OECD

Image: ipolitics.ca

No doubt the rich and powerful have been cracking up with laughter for decades over their ability to peddle "trickle-down economics" to a trusting public.

But a surprisingly strong report just released by the prestigious Organization for Economic Co-operation and Development (OECD) may cause the public to regard these wealthy snakeoil salesmen more skeptically in the future.

Essentially, the OECD report reveals the immensity of the trickle-down scam, which the report shows has not only failed to foster economic growth as promised, but has proved to be an overall killer of economic growth.

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Columnists

A number is never just a number: Billionaires

Photo: Thomas Hawk/flickr

1

There is one billionaire for every three million people in the world.

2,325

Number of billionaires in the world in 2014 -- a 7 per cent increase since last year and it represents an all-time record high. They control nearly 4 per cent of the world's wealth.

$7.3 trillion (U.S.)

Combined worth of the world's billionaires in 2014 -- up 12 per cent since last year. That's higher than the market capitalization of all the companies included in the Dow Jones Industrial Average.

25

Percentage of the world's billionaires living in the United States. It's the country with the most billionaires -- 571 of them.

38

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Photo: Rick Eh?/flickr
| November 26, 2014
Photo: Book_Maiden/flickr
| November 20, 2014
| November 20, 2014
Columnists

Canada's rapidly growing wealth gap remains off the political agenda. Why?

Photo: v i p e z/flickr

The Onion magazine suggests we should consider the gap between rich and poor the Eighth Wonder of the World -- "a tremendous, millennia-old expanse that fills us with both wonder and humility … the most colossal and enduring of mankind's creations."

Another aspect of the rich-poor gap that has always filled me with wonder is how the rich manage to keep it off the political agenda.

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Columnists

Harper Knows Best: The social engineering of income-splitting

Photo: pmwebphotos/flickr

Stephen Harper is gearing up for the next election with a plan for rewarding "hard-working Canadian families." Or at least a few of them.

In truth, Harper plans to give something to all families by enriching the Universal Child Care Benefit by $60 a month per child -- thereby providing parents with an extra $2 a day.

Having taken care of the "fairness" issue with this toonie-a-day (almost enough to buy a child an ice cream cone) Harper goes on to propose what really interests him: a new tax cut that moves in the direction of ending progressive taxation, the long-established notion that the rich should pay higher tax rates than the rest.

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