As Congress Tackles Social Security's Problems, Here Are 4 Ways Benefit Cuts Would Hurt Local Economies
Key takeaways
- While the "trickle-down theory" is frequently associated with President Ronald Reagan s policies, it dates back to the 1920s, when humorist Will Rogers coined the term.
- If there s any truth to the trickle-down theory, it s illustrated by the impact those 63 million-plus Americans receiving Social Security retirement or survivors benefits have on their local economies.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
While the "trickle-down theory" is frequently associated with President Ronald Reagan s policies, it dates back to the 1920s, when humorist Will Rogers coined the term. The trickle-down theory involves giving tax breaks and other perks to the richest Americans in the belief that they won t hoard the money, but rather, use it to build new businesses and spur economic growth.
If there s any truth to the trickle-down theory, it s illustrated by the impact those 63 million-plus Americans receiving Social Security retirement or survivors benefits have on their local economies. Here s a look at how Social Security supports local economies and what we can expect if the Social Security trust fund is depleted, leading to a 25% cut in benefits for retirees and their dependents.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »