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this post was submitted on 20 Oct 2024
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Trickle down economics is also illegal in the USA. It was attempted by Ford Motors in 1919.
Ford declared:
...in the opinion written by Russell C. Ostrander argued that the profits to the stockholders should be the primary concern for the company directors... The court therefore upheld the order of the trial court requiring that directors declare an extra dividend of $19.3 million. It said the following:
The whole idea of trickle down economics was never going to happen because the first company that would have tried it (again) would have just lost in court and the CEO that authorized it would be fired and removed.
Early Ford hated bankers and investors. He did some brilliant moves to cut them out and early Ford really seemed to be pro worker. Later Ford was not the same man.