Don’t you just love this term? In case you didn’t know, this term was coined by the Republicans to justify giving the wealthy individuals & businesses major tax breaks *. They explained that this would allow businesses to keep more of their earnings to re-invest which would ultimately trickle down to the working class people. The Republicans exploited this term & policy during the Ronald Reagan administration. Mr. Reagan was an unusually big proponent of big business, and big businesses benefited greatly under his administration. But now that history has been written about Mr. Reagan’s Trickle Down Economics policy, we know that this was just a raping of the working class and a scam made legal by the Reagan administration. There is no record that one single penny of the tax savings was re-invested and/or that any of it “trickled” down to the working class people. What is comical though is that when the Republicans realized that the American people knew just exactly what this term meant and that it was a scam, they reverted to calling the policy “Supply Side Economics”. But, of course nothing has changed except the name. Republicans still try to push through more tax breaks for the wealthy, and this policy is just one of the vehicles’ they use to do that.
* http://en.wikipedia.org/wiki/Trickle-down_economics
Below are some of the many available links to Reagan’s Trickle Down Economics policy.
http://rationalrevolution.net/war/trickle_down.htm
http://www.faireconomy.org/research/TrickleDown.html
http://www.wpi.edu/News/TechNews/010410/taxcut.shtml
PS: I am not a Democrat either. Stay tuned for my posting of “scams” implemented by the Democratic Party.
