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Pranshu Bansal Pranshu Bansal
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2 years ago
Watch this video featuring funny Australian accents:

the featured video portrayed trickle-down economic policy, like tax cuts for the rich, as a joke. Advocates of Neoliberalism would disagree. How would a Neoliberal advocate argue that tax cuts for the rich would be a) good for the economy and b) good for individual freedom.
Finally, do you personally agree with the advocates of Neoliberalism or the makers of the video? Are tax cuts for the rich good policy or a bad joke?
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2 years ago
Neoliberals would argue that if a favorable policy related to income and capital gain taxes are formed for large businesses, investors and entrepreneurs, it will stimulate economic growth. To justify this notion, this theory suggests that everyone in the economy benefits from the growth, and to achieve rapid growth, all businesses should be favored since they already have the required resources and skills to increase the productive output. For example, a company that is taxed less will pay its employee's more, be more charitable, and likely hire more workers as productivity and demand for products increase. In fact, neoliberals would conclude that the U.S. bank bailouts of 2008 were successful to revive the economy. This was accomplished under this pretense.
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