In response to:

Trickle Down and Tax Cuts

kenneth416 Wrote: Oct 03, 2012 10:34 AM
I think the idea of trickle down economics springs from the idea that rich people, having made a lot of money from their investments or high salaries/bonuses tend to spend the money, buying things such as houses, cars, jewelry, etc., which means that they are injecting money into the system, fueling the churning of money, as it turns over several times. Conversely, a very poor person living in subsidized housing and getting food stamps does not buy an expensive house, a new car, take trips to Europe, etc. He/she needs every cent just to sustain his/her existence.
dmarn Wrote: Oct 03, 2012 3:22 PM
Rich people already have all those things kenneth416 lists .
Poor people on the other hand spend anything they get,including food stamps, and help the economy more.
Instead of disparaging the poor who have been made that way by the politicians allowing for the outsourcing of their jobs to 3rd world countries where the corporations pay slave wages improving their lives while at the same time lowering the quality of life for millions of American workers.
John in Gwinnett,Ga Wrote: Oct 03, 2012 3:35 PM
dmarn, are you writing for a comedian?
FletchforFreedom Wrote: Oct 03, 2012 4:08 PM
dmarn, don't pretend that you have the SLIGHTEST grasp of economics. Only a complete economic ignoranmus believes that spending "helps the economy more". It is PRODUCTION fueled by INVESTMENT (savings) that drives the economy, creates jobs and increases prosperity. The poor were certainly made that way by clowns in government, but NOT due to outsourcing (more jobs are INsourced into the US and they are HIGHER PAYING jobs), but by spending like drunken sailors which takes productive resources out of the economy via taxation, competition in the credit markets or inflation (actually all three).

And any idiot using the phrase "slave wages" just proves how imbecilic they really are.

Grow up.
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...