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?