There is no clear proof that low taxation leads to economic growth.
I think that’s true. Lowering taxes seems to lead to economic growth when taxes are high; but when taxes are not high, there seems to be a law of diminishing returns in effect. Further, a more relevant variable to economic growth might be the ease of obtaining investment capital.
In fact OECD has concluded that wealth inequality hampers economic growth.
Hmmmm. Europe traditionally has less inequality but lower growth than the US. Do you have the link to the OECD paper? It’s a bit counterintuitive, if that’s in fact their finding.
Crying crocodile tears over the plight of working class Americans is not very convincing. The US has seen tremendous economic growth since the late 1970s. Yet working class wages have barely changed.
Well, they’ve dropped. We hit a peak in real hourly wage back in 1974.
Not very different from the 1929 depression also caused by inequality levels reaching levels where people at the bottom started borrowing heavily to keep up with the Joneses.
Uh, are you seriously inferring that the events of 1929 were caused by wealth inequality? Or am I reading you wrong?