Thursday, October 15, 2015

Trickle Down made the Rich Richer and everyone else GOT LITTLE OR NOTHING. 35 years of being trickled on.

http://www.liberalamerica.org/2015/10/12/guess-republican-tax-cuts-dont-work-thing-trickles-deficits/

The implementation of Reagan’s trickle down theory ended the era of FDR’s “New Deal” and set up an environment of never ending deficits for our nation. The failure of this economic theory and all its side-effects came to a head in 2008 financial crisisunder Republican President George W. Bush.
Statistics have shown that the gap between rich and poor has grown unabated since the early 1980s when Reagan took office. While Reagan was advocating smaller government to his supporters with his rhetoric, he increased government while in office. This former grade B actor should have gotten an Emmy for his performance.
Then there is the human factor in all of this voodoo economics tom-foolery. No one wants to admit they were wrong. Reagan and the Republican Party were wrong about supply-side economics trickling down to the rest of us. Moreover, there are many examples to prove it.
Example after example shows how Republican ideology fails not just in the social arena but in the financial realm as well. In 2010, Kansas voted Republican Sam Brownback as its governor. He got right to work cutting taxes. One of the biggest realities the Republican Party and its adherents tend to overlook is that when you cut taxe, “taxes get cut.” Subsequently, revenues could not keep up with expenses, which will create a shortfall of about $900 million by the fiscal year 2019.
This action by the so-called Tea Party favorite got the state’s credit rating downgraded by Moody’s Investment Services, which stated that the state’s tax plan was the primary reason for the decline.

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