Wednesday December 20, 2017
The trickle-down theory is Republican propaganda based on the idea that making rich people richer will cause wealth to trickle down to poorer people. Trickle-down has never worked and never will work. I've seen it tried before.
President Ronald Reagan lowered taxes mostly on the rich. His successor, President George H.W. Bush, finally had to raise some taxes and lasted only one term before being defeated by Bill Clinton. The economy was in bad shape. Clinton's campaign mantra was, "It's the Economy, Stupid." Clinton raised taxes, and the economy boomed during his presidency. He left office with a budget surplus.
President George W. Bush blew the surplus, lowered taxes and trashed the economy. In 2005-2006, after losing half my 401(k), I vowed to never vote Republican again.
The economy has come back, slowly, no thanks to the Republicans, who fought everything President Barack Obama tried to do. The economy we are enjoying now is still Obama's.
The Republicans are about to pass a tax plan that makes the rich richer with the hope that the wealth trickles down. I see what I previously have experienced. I expect another trashed economy coming our way.
Trickle-down theory doesn't really work