The Daily Populous

Wednesday December 16th, 2020 evening edition

image for A huge study of 50 years of tax cuts for the wealthy suggests 'trickle-down' economics makes inequality worse

Their analysis of 50 years' worth of tax cuts for the wealthy in 18 countries counters arguments that such cuts "trickle down" to the rest of the economy.

Large tax cuts for the rich don't lead to economic growth and employment but instead cause higher income inequality, a new study that examined tax cuts over 50 years suggested.

A recent paper by David Hope of the London School of Economics and Julian Limberg of King's College London found that tax cuts for the rich in 18 countries predominantly benefited the wealthy.

After major tax cuts for the rich were introduced, the top 1% share of pretax national income increased by almost 1 percentage point, they found.

Supporters say tax cuts for the rich can lead wealthy people to put in more hours and effort at work, boosting economic activity, the researchers said.

Other arguments for trickle-down tax cuts include that they allow wealthy people to invest more and benefit the economy.

Top incomes have risen rapidly since the 1980s — and as they grew, more tax cuts for the wealthy were introduced, the researchers said. »

QAnon Supporters Vow to Leave GOP After Mitch McConnell Accepts Election Result

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Supporters of the QAnon conspiracy theory have unsurprisingly turned their backs on Mitch McConnell after he finally congratulated President-elect Joe Biden on his election victory.

A number of other high-profile QAnon supporters also attacked McConnell for recognizing Biden as the winner of the election.

Lin Wood, the attorney who is attempting to overturn election results along with fellow QAnon supporter Sidney Powell, tweeted: "Mitch McConnell @senatemajldr is NOT a Patriot. »

Myth bashing: Are daddy longlegs spiders?

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The critters most commonly referred to as daddy longlegs are not spiders.

They are also arachnids, but are more closely related to scorpions than to spiders.

All three of these daddy longlegs are found all over the world and are common in houses. »

City gets public backlash for spending federal COVID relief money on golf course clubhouse

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"This money was earmarked from the federal government to help businesses and cities survive this pandemic, not increase city facilities and amenities.

Federal law requires an audit of any local government that spends $750,000 or more of federal money in a fiscal year.

In response to the backlash, Mayor Bain said the city council could still decide to give back the federal money it spent on the clubhouse. »