In response to:

Trickle Down and Tax Cuts

Don't Tread On Me3 Wrote: Oct 03, 2012 9:36 AM
You have to bear in mind that back when there were 70% & higher top brackets, there were also copious exemptions & deductions such that relatively little hi income actually got taxed. "Reforms" such as that of 1986 blew away many deductions just as the middle class found out about them & started using them, while lowering rates. Between actual subsequent rate hikes, & bracket creep, the effective tax rates eventually start rising again on various pretexts. Notice that tax hikes undertaken ostensibly for "deficit reduction" are invariably followed by $pending hikes. The only way to reduce deficits is to not $pend! By the way, does anyone know who 1st used that term "trickle down" economics?
dmarn Wrote: Oct 03, 2012 3:26 PM
Even today 2/3 of all American Corporations pay NO federal Income tax with many even getting refunds from those that do pay their fair share.
Republican governance going back to Reagan IS responsible for 2/3 of the national debt because of their uncontrolled spending and NOT paying for anything like tax cuts to the rich and their wars and interference in many countries internal affairs.
skywalker58 Wrote: Oct 03, 2012 2:06 PM
The first time I remember hearing the term was duing the Reagan administration, but I believe it was used by Democrats (or the media), who had control of both houses of Congress at the time. They used it to describe the theory of the use of tax cuts to improve the economy espoused by Reagan. I don't remember for sure.
Don't Tread On Me3 Wrote: Oct 03, 2012 2:57 PM
That was when I 1st heard it, too.

The Dems had already reached the point they cared less even about revenue or actually covering government $pending, than demagoguery & having the power to decide who gets what.
Don't Tread On Me3 Wrote: Oct 03, 2012 2:57 PM
That was when I 1st heard it, too.

The Dems had already reached the point they cared less even about revenue or actually covering government $pending, than demagoguery & having the power to decide who gets what.
Don't Tread On Me3 Wrote: Oct 03, 2012 2:58 PM
That was when I 1st heard it, too.

The Dems had already reached the point they cared less even about revenue or actually covering government $pending, than demagoguery & having the power to decide who gets what.
Don't Tread On Me3 Wrote: Oct 03, 2012 9:49 AM
Per the Wikipedia article, Will Rogers actually is said to have coined that term.

Interestingly, economist George Reisman is also quoted, in which he said the alternative to the theory of free enterprise & profit smeared with the "trickle-down" label, is the forcible confiscation of wealth for the government elite to spend, i.e., the "loot and plunder theory."
Dr. Thomas Sowell's "'Trickle Down Theory' and 'Tax Cuts for the Rich'" has just been published by the Hoover Institution. Having read this short paper, the conclusion you must reach is that the term "trickle down theory" is simply a tool of charlatans and political hustlers.

Sowell states that "no such theory has been found in even the most voluminous and learned histories of economic theories." That's from a scholar who has published extensively in the history of economic thought. Several years ago, Sowell, in his syndicated column, challenged anyone to name an economist from any economic school of...