5.79 Trickle Down Economics

There is an idea that is scoffed at by many called Trickle Down Economics.  The idea is that if a person becomes wealthy people who are not wealthy benefit.  His wealth trickles down to them. 

Supposing a city has a lot of wealthy people and a mayor is elected who decides to increase their taxes so that he will have more money to pay for programs voters want like free college, free medical care etc.. 

Another city decides to cut taxes on the wealthy.  In which city will people who are not wealthy do better?  Mayor Mamdani of New York imposed a tax on people who own property in New York but live elsewhere most of the time.  The video below explains how wealth did trickle down from the people Mayor Mamdani is driving out of New York with his increased taxds.

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