"Trickle Down" economics was a "Trojan Horse"

In the 1980’s Ronald Reagan ushered in a new era in American economics as he cut the top tax bracket from 70% down to 50% and then down again to 28%. In order to get support for doing this from the people, and also from politicians, a very crafty set of lies were produced. As David Stockman, then Reagan’s budget director, put it: giving small tax cuts across the board to all brackets was simply a “Trojan Horse” that was used to get approval for the huge top tax bracket cuts. “Trickle-Down” was a term used by Republicans that meant giving tax cuts to the rich. Stockman explains that:

"It's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory."

"Yes, Stockman conceded, when one stripped away the new rhetoric emphasizing across-the-board cuts, the supply-side theory was really new clothes for the unpopular doctrine of the old Republican orthodoxy."

"…the Reagan coalition prevailed again in the House and Congress passed the tax-cut legislation with a final frenzy of trading and bargaining. Again, Stockman was not exhilarated by the victory. On the contrary, it seemed to leave a bad taste in his mouth, as though the democratic process had finally succeeded in shocking him by its intensity and its greed. Once again, Stockman participated in the trading -- special tax concessions for oil -- lease holders and real-estate tax shelters, and generous loopholes that virtually eliminated the corporate income tax. Stockman sat in the room and saw it happen."

"'Do you realize the greed that came to the forefront?' Stockman asked with wonder. 'The hogs were really feeding. The greed level, the level of opportunism, just got out of control.'"
http://rationalrevolution0.tripod.co...ickle_down.htm

My dad went from making about 250 a week to the general manager of a car dealership during the Regan Years... why because more jobs were created.

However, it IS NOT the job of the government to provide health care... it is the responsibility of the person seeking health care to pay for it themselves.

Call me a kook if you want to... but he's right, those are better ways to do it. MY INCOME IS MY INCOME. YOU did nothing to earn my income, NOTHING. Those thousands of people on welfare don't need to be sitting on their butts doing nothing. They need to be finding a J-O-B. Do you realize if there were a federal sales tax and no income tax. I would be able to keep more of my own money to spend on things that i want/need and the government would still get a share? I would be able to take care of MY OWN family without worrying about whether we could make the rent. Nothing infuriates me more than seeing these welfare people sitting on their butts drinking 40s and knowing that it is MY money my father's money, my grandfather's money that allowed them to have those things... NO ONE IS ENTITLED TO WEALTH... you have to work for it... but the harder you work the harder youre taxed... it's sick. It is nothing more than legalized ROBBERY!!

maybe that's because the government is taking too much out of their paychecks in taxes... hmmm interesting.

the government has FAR to much power... lets get back to the constitution.

You apparently want to argue party politics instead of policy.

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I've really been thinking about what happens when you have such a low tax rate on the obscenely rich, along with giving them ways to create tax shelters, write offs, etc...

The rich fat cats forgot one thing when they managed to convince that the Repubs really cared about the middle and lower classes.

The middle and lower classes outnumber them, and when the lower end of the income scales feel pinched, but they see reports that the top 1% of Americans saw healthy income increases, while they have trouble making ends meet, then the other shoe will drop, and the group seen as at fault for what has taken place will feel their wrath.

The simple truth is, since Reagan started this silliness, wages have stagnated for the majority of americans, the top of the spectrum have seen unparalleled income growth, health care has been harder and harder to come by, college costs keep going up, and their kids are starting to see the reality of the bush job creation, that it's "Do you want fries with that?"

No, I think the concept of Trickle down has been patently debunked, but there's more than tax brackets and rates that have hurt americans, there is also so called free trade, defanging the unions, constant calls to privatize everything etc...

The other shoe has fallen.

What, no comment on the actual historical statistics? What's the matter, don't they support your arguments?

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"And the life of man, solitary, poor, nasty, brutish, and short." - Thomas Hobbes

Exactly right Truman! And that giant shoe fell on 80% of the taxpayers who only own 10% of the wealth now. It would seem the financial pain level has finally overcome the trailer park Republican syndrome, as we call it here in Virginia, where lower income Republicans vote against their best economic interests due to the fear and smear tactics employed.

You are also right the 10% of the rich have forgotten that while they own 80% of the wealth, the rest of us own 90% of the vote!

You're a kook.

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'A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward'. - Franklin D. Roosevelt

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