Why Conservative Economic Policy is the Root of our Economic Troubles

The core principles of conservative economic policy (aka neoliberalism):

1. Reduce taxes for the rich in the hope that they will invest and create jobs. WRONG: This policy has negative results in the age of automation, offshoring and financial tricks. Employees' wages cut into profits and the employers want to keep them low or non-existent. This only WIDENS the gap between rich and poor and reduces money available to the government to make needed infrastructure improvements, for education, healthcare, social support services, etc.
2. Sell public infrastructure services to the private sector. WRONG: This policy means that corporations can charge whopping fees while scrimping on quality. For example there is a marked difference between the better quality care provided in government owned long term care homes and the dismal record of those that are privately owned. Did the 407 markedly reduce traffic on the 401 in Ontario? No because few can afford to drive on it regularly. This policy also WIDENS the gap between rich and poor and doesn't save the government any money, in fact the US has a private system of health but it costs more in government money to maintain than any other in the world! 
3. With less money coming into government coffers through tax revenues, it will be necessary to cut public services, healthcare and education, etc. WRONG: With wage stagnation, income taxes paid by the average earner won't cover the cuts granted to the mega rich. This policy (aka "austerity") widens the gap between rich and poor...
4. With the poorest off getting worse off, giving rise to social problems, social problems should be treated as individual faults or crimes dealt to be dealt with by law enforcement. We should invest more in law enforcement. WRONG: Excessive policing worsens the effects of bad conservative economic policy and does nothing to correct the desperate situation that causes social problems in the first place.

Quite obvious, when you think about it.

It's clear why large corporations support conservatives but I can't understand why people on the other end of the economic scale do. It's so obviously counterproductive to themselves and their children's futures. 😕😕😕

Here's a very informative article, 

The economic consequences of major tax cuts for the rich 

David Hope,  Julian Limberg:  "https://academic.oup.com/ser/article/20/2/539/6500315

From the article: "Our results show that major tax cuts for the rich increase income inequality in the years following the reform. The magnitude of the effect is sizeable; on average, each major reform leads to a rise in top 1% share of pre-tax national income of over 0.7 percentage points. The results also show that economic performance, as measured by real Gross Domestic Product (GDP) per capita and the unemployment rate is not significantly affected by major tax cuts for the rich."

Here a summary of the World Inequality Report 2021. 

The impact of inequality on everyone's quality of life is huge.