Tax cuts for wealthy raise debt, worsen trickle down economics issues
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Tax cuts for wealthy raise debt, worsen trickle down economics issues

Washington : DC : USA | Dec 05, 2010 at 2:47 PM PST
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Before the Regan Administration invented trickle-down economics, tax rates for America's wealthiest people was 70%, and the phrase ‘budget deficit' was inconsequential. Statistics show that the less wealthy Americans pay in taxes, the worse nearly every other aspect of the economy and quality of life gets.

According to the Economic Policy Institute, family income among the top 1% grew a whopping 73.9% from 1980 to 1990, while the lowest earners saw a negative 4.4% drop in their income.

Nothing trickled down under the Regan Administration, and nothing trickled down under the Bush tax cuts. In fact, since the United States began giving larger and larger breaks to millionaires and billionaires, the deficit has gotten worse and worse.

A UPI report said, "...There is no evidence in our data that those (trickle-down economics) benefits have trickled down to lower-income Americans."

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Only the most wealthy Americans benefit from trickle down economics theory
itobin53 is based in Tampa, Florida, United States of America, and is an Anchor for Allvoices.
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Posted By firesisle Hardy Wright | over 2 years ago
I think you need to learn a little more about the history of economics; Reagan didn't invent trickle-down theory. It was first applied by Will Rogers, during the Great Depression and applied to the policies of FDR.

The tax rate cuts during the Reagan years were passed by two Democrat controlled Houses of Congress; all Reagan did was sign them. The Democrats are the ones who passed them.

Trickle-down is just a political rhetorical construct that gives very basic and substantially flawed picture of supply side economics, which is basically removing impediments to production, and has a scope much wider than mere tax cuts or incentives...
Posted By itobin53 itobin53 | over 2 years ago
trickle down economics is contrary to our Keynesian-based/ fed monetary policy. you can't have both and expect capitalism to work - hence, our crumbling economy, shrinking middle class and no job creation.

thanks to the no- regulation free-for-all on Wall Street our financial system will NEVER recover. This has been building for 20 years. We will NEVER pay off the money we owe. Furthermore, the tax cuts for the rich will be financed by LOANS FROM CHINA, since they are not paid for.

As for Regan signing trickle down - it was his idea to push it through congress. Theoretically and realistically unregulated supply side economics does not work. In a few more years this country will be a third world joke - and China already owns us.

Those are the facts.
Posted By Jeanne-marieTran Jeanne-marieTran | over 2 years ago
We have an unethical, immoral, unChristian feed-the-wealthy based economy, and sorry I am that my President Obama did not have the courage to face them down and let them have their way, put the poor and unemployed out in the street, and go hungry and let their peers deal with Mr. Boehner. Very sorry I am, indeed, because now we will face a deepening depression at the hands of the wealthy, who will take advantage of those that Obama saved by a compromise to allow the rich and wealthy to steal more and more from our Treasury, loosing more and more jobs, and compromising with the Devil, Boehner, who would kick the poor and jobless out into the streets and starve for Christmas and the beginning of a hard winter. I am sooooo very sorry that Obama didn't let him do it, if he dared, in the face of his Republican constituents whom he represents. Would they have let him...now we will never know just how evil the Republican constituents really are, but we do know that they won't be covering their fair share of taxes, now, don't we?

It is completely immoral in the first place for Mr. Boehner to have threatened as much, to twist the arms of the Democrats by threatening to shove the poor, unemployed out into the winter with Christmas coming, nay that was neither courage nor intelligence, that was sheer Mafia tools, armtwisting, and he is as Big Man as a Mafia Captain is, who never does the "dealing with trouble" himself, but sends out his order to the little guys on the bottom to "undo" those who disagree with him, or cost him in any way, and those guys on the bottom, they know how to do it and cause as much pain in the process as they can.

Mr. Boehner is Mafia, and his party is family and they twist arms to get their own way, and if their threats are not taken seriously, then they go to the wife and children and do a bit of damage until he gets the message there is no choice. That is Mr. Boehner, and he will continue to twist arms again, and again, and again, extortion in the first degree, using innocent victims to force the President to continue horrible economic policy to give money to the rich and wealthy for temporary unemployment to the jobless.


The rich and wealthy are rich and wealthy already. They do not need any more. Has Mr. Boehner suveyed these rich and wealthy Republicans to ask them if they want to continue to take money from the middle and poor in taxes from the Treasury to pay for their horrible, crippling tax cut, which is increasing our deficit by the minute, by the second, that will soon make us a Third World Nation, and then they can own America, the poor...has Mr. Boehner asked them if this is where they want America to go for the sake of adding to their wealth??? When the poor, which then will be 99.5% of the population, because that is where we are going, .05 percent of the population makes $1 million+, and THEY STILL WANT A 70% tax cut just to watch our country shiver down the economic safety ladder, IS MR. BOEHNER SURE THAT IS WHAT THEY WANT, to be the Barons of a nation of serfs, and that those Christian Conservatives want to be responsible for the national impovrishment to their neverending increasing wealtlh to the neverending impoverishment of the rest of the nation, because that comes with some terrifying prospects of blame and guilt, being the cause of 10% unemployment and homelessness and unemployment and incomelessness of the masses, surely there are some of the Christian Conservatives that afear their Christianity and want nothing to do with this trodding of the weak and poor and the weakening and impoverishment of the middle class???

Mr. Boehner, are you sure your Christian Conservatives back you in your cruel, extortionist ways, and put incomeless families out on the street in the cold, and that they will feel sure enough that if they pray hard enough that the Lord will forgive them their greed and avarice, are you sure they want to be complicit in the crumpling of America's economy and the slow death of the poor and eventually the falling middle class, nd then, foolishly, you will have only yourselves to cheat, you will have killed the Golden Goose.

Take it to the top, Mr. Boehner, the poorer you make us, the better Europe looks as a place to live, who cares if the Parisians call us the ugly Americans, whenn we retire we will emmigate to other countries where their governments do not try to squeeze the life out of you, in fact it is part of the purpose of their governments to serve the people, and the taxes are, therefore, progressive, they do not "lean" on the middle and poor to feed the rich and wealthy. Yes, Sir, Mr. Boehner, as much as I love America, you are making it very difficult to live here. My father, whose family came from Italy to make a better life in Salem, Massachusetts, is sad to see that even as hard as I tried and did so succeed to be a successful Executive Assistant of very fine income without a college education in Boston, had followed my late architect husband to Florida, and when the time came, and I was the only responsible one for our son, went to college on loans and graduate school on loans, and in spite of loan forgiveness for my BA and MA, the Bush government cancelled both of them and I was nearly $25 thousand in debt, and with education funding cut, had been unable to get work when I moved to get married to the other side of Florida's coast where they were laying off, and it was a terrible economic engagement, but one does not marry for insurance as one does not divorce for loss or work, and I had to pay for my prescription, without insurance cost a horrible $800+ a month, not a $20 co-pay, and 2 years later I owed nearly $20K in medications and a few thousand in Doctor visits, and have been paying the charge accounts I used off, along with the charged funeral costs, and right now I am running out of money as the government cut the federal funding under Mr. Bush and department at the college in which I and 28 other professors worked were all laid off 2 1/2 years ago, and so I am running on nothing, but fortunately I had monies in the bank saved from when I was employed before and knew how fickle was our economy under the Repubicans, and indeed, the short time I had under the new school system before was, indeed, very short due to cuts in education under Mr. Bush, and they have been laying off ever since. And while I have applied at many different places, my education and work history have fought me every inch of the way, that the supermarket felt that I had no experience for a bagging job, as did Target for stocking shelves and racks, and Walgreens and other drug stores I was not experienced as a chashier, even our corner gas station who knows me so well, just couldn't see me handling the store, with no gas station experience, also thought I was amusing to ask for such a job, the professor doing gas...and Wallmart was thinking I wouldn't stay long, as soon as I got another professor job, and they were right, but I didn't see any federal funding for education being passed by you cheap, you cheap, well you Republicans and would strong arm the President with your creepy ways of taking from the poor and giving to the rich and wealthy, and you'll do it every time something comes up, like health care, which is why my late husband died, because neither his insurance nor Medicaid would cover the cost of Interferon for the Hepatitis which he caught in Vietnam but had been in remission for a very long time but came back, and when his mental faculties had been noticed by his boss of 15 years as chief architect, he was fired and then the home was lost and his back taxes were due in a threat from the IRS and your rich and wealthy have their offshore tax evasion felony accounts, between them and their 70% tax cut I am wondering if they get taxes back from the government...maybe.

Well, Mr. Boehner, you extortionist, You better make absolutely certain that your rich and wealthy constituents approve of your decision for them to be the ugly Americans (after all, when that phrase came into popular use, it was decades ago, when visiting England and the continent was almost exclusively the hobby of the rich and wealthy, who established the image of the "Ugly Americans") depending on the melting middle and working poor to fill in their gap, because there may be a large if not a majority sector of your Conservative Christians growing to feel uncomfortable with the sin of avarice and may want to begin paying the taxes that they owe. I do not believe that all your customers are cheap, stingy theives of the American Treasury and want to steal from the poor and especially the American jobless, since it is to a large extent the taxes that they have not paid over the decades and generations that have caused this terribly economy that is cutting down the middle and poor to incomeless and then homeless. While I have been incomeless for many months, I have tried to pick up a couple of new stuffed animals each month for the homeless shelter that is near the college where I taught, and last week my husband took me by to deliver the new stuffed animals for the children who would be there for Christmas. I will be helping to serve the homeless Christmas dinner, as I would normally be with my disabled brother in Massachusetts who will be alone, except for his social worker who will come by with a pie and share a piece and some coffee with my brother. This year without unemployment I cannot afford to visit him, last time I saw him was Thanksgiving last year, and then I got sideswiped, and swished myself off the road into some bushes, and the car was so old, the insurance decided to total it, but it still ran and the damage was only skin deep, and they gave us hardly anything for it, but wouldn't let us keep it, so now we have only one car, and the county isn't paying for substitutes this year anyway, it is volunteer basis only. So I don't even have that money to pay for the ticket. Mr. Boehner you are so very cheap and cruel, it is hard for me to appreciate how you so enjoy it, but clearly you do. How shall you ammend for it in the end, Sir? Are you willing to chance the long term future because this cruelty will follow you, sir, and you can hardly call yourself a Christian, even if you check that box on surveys, you are hardened and you are cruel, you must be very, very sure that you are doing what the rich and wealthy want, because you are implicating them in a Christian Crime that is a mortal sin... I do hope you know what you are doing, because the fault of this sin shall ring across this nation, indeed around the world, they will wonder how this "choice" could happen to Christians in the United States, and I do not think that there will be any mistake, any error in the interpretation of extortion by the Republican party, and President Obama's reaction to the threat of letting the poor, unemployed go into Christmas and the hard winter incomeless. We shall see the reports of Cruel Americans in the Modern Western Nations, and perhaps even the Third World Nations, where this is common, who come to America in distress and beg for assistance, now seeing that the Republican Americans put so many Americans in a state of needing assistance, perhaps, even from Third World Nations, if not from our cousin Modern Western Nations, where we are being starved and put out of our homes by a militant, and tyrannical Republican party. That may be the tactic to take, as Mr. Boehner intends to stare and put out the jobless, perhaps it is time to beg from our neighbors, who will have more mercy upon our poor unemployed than our own rich and wealthy Americans...wouldn't that be a site, the sins of American rich lead to the suffering of the American jobless. Now, Sir, I dare you to keep the suffering of the poor and jobless, or live down your avarice and greed among the Modern Western Nations of the World, that the American rich and wealthy, led by Mr. Boehner, are stealing all the wealth of the middle and working poor Americans, that the jobless are being sent out into the streets and hungry that they beg help from the Modern Western Nations for help with basic needs, food and shelter. This, Mr. Boehner, and more can be all yours, for you and your rich and wealthy, as a Christmas Gift, an explosion of reality in the news, and you can live it down, or since you all don't have a conscience, live it up!!!

Merry Christmas, Mr. Boehner, and all your esteemed followers, and I shall hope to make it as merry for your rich and wealthy followers as I possibly can...
Reply By itobin53 itobin53 | over 2 years ago
It is truly a shame that unemployment insurance was held hostage for tax breaks for millionaires. Thanks for your well thought out comment.
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