by Mr. Universe
Trickle down economics. Reagan made this phrase famous. The idea being that if you give those with the money the tax breaks it would give them the means to create more jobs and, ergo, bolster the economy. There’s just one problem with that: it presumes that those rich folks will do their altruistic duty and create new jobs. Well, surprise! They don’t, actually.
Turns out that they take the money and run (or hide, to be more accurate). And it doesn’t improve the economy. In fact, it creates a demand for high dollar goods and services rather than manufacturing jobs which companies ship overseas. Jets, yachts, RVs, etc. Things only available to the top 2% of Americans. I can confirm this since many of the RV manufacturers locate to Oregon as a tax haven as a result of the lack of a sales tax here. The rich keep their planes here for six months so they can be declared ‘local’ and exempt. You get the idea.
So now the Republicans want to extend the Bush tax cuts which are set to expire next year. How’s that campaign message workin’ for ya?
This is the height of insult. I cannot believe there is a middle class American out there; Democrat or Republican, who is willing to be fooled again. When the Republicans writhe in agony over redistribution of wealth they fail to mention that this has been happening ever since the Reagan years. Yeah there is a redistribution going on; in the wrong direction. The rich got a 10 year holiday from taxes. No more. It’s time to pull your weight in this economic crisis. As Sarah Palin says; “Buck up!”. This is the decade (century) of the middle class. WE CAN DO IT!
It’s time to try ‘Rising Tide Economics’. In other words, a ‘rising tide floats all boats’. Or ‘when the train comes in, everybody rides’. America thrives on the power of numbers. There are greater numbers of middle class than ever before and it’s time to give them a chance at bat. Give small businesses capital. Give entrepreneurs the same. Let municipalities rebuild infrastructure and hire people to build their bridges, highways, and other public facilities. Heck, bring back the CCC.
Let’s get to work!