In response to:

The 'Trickle-Down' Lie

Joe165 Wrote: Jan 07, 2014 10:46 AM
Sounds like lbrown is saying that David Stockman, former Reagan administration budget director, used the term "trickle-down". I guess that would answer Sowell's question about who has actually advocated the trickle-down theory. So maybe the theory is that if tax cuts are given to wealthier people and corporations, then they will do better and invest in other business ventures that hire more people. Maybe the difficult and hard-to-swallow fact here is that all economics is "trickle-down" to some extent. The fact is that only a small percentage of people have the luck, talent, and resources to start business or government ventures that allow others to make a living. So in a sense, its all "trickling down" from those people. Of course they are obligated to pay their employees a fair wage, and if they don't, it's wrong. But its also wrong to force them to give a separate chunk of money to others, just because they have been successful. I suppose the early American pioneers who staked out some land and farmed it with their own hands are the closest thing to "non-trickle-down" economics that we've had. But even they had to buy some tools from eastern manufacturers. Plus, realistically they worked harder than most of us today can imagine, so do we really want to go back to that model?
AliveInHim Wrote: Jan 07, 2014 10:57 AM
Well, most of what we have is built on what those brave people began with little more than their bare hands!

To your 'fair wage' remark, I sincerely hope you believe that it is nobody's business but the employer and his employee what wages shall be paid for an honest day's work.

:)
SD3 Wrote: Jan 07, 2014 10:56 AM
You're absolutely right about that. In 2010 companies launched by entrepreneurs backed by venture capital generated more than 20% of US GDP. Companies less than five years old generated more than 100% of all the new jobs that year (the older ones collectively lost jobs). So if you're in the job market, you'd better hope that the activities of a very few productive people "trickle down".
mandingo Wrote: Jan 07, 2014 10:56 AM
"all economics is "trickle-down" to some extent"

i think that was sowell's point... a naturally functioning economy works this way. sowell was also pointing out how the left- in this case deblasio- manipulates words and meanings to create false memes that serve their agenda.