Posts Tagged ‘trickle-down’

Trickle-Down Economics Is Trickling Away

October 11, 2018

Trickle-Down Economics Is Trickling Away

That old voodoo economics has the president in its spell, but where’s the magic?

Noah Smith: “If Trump’s corporate tax cuts end up having no observable effect on workers’ pay, it will be the final blow to the supply-side worldview.”

— “Trump Puts Supply-Side Economics to Its Final Test,” Noah Smith, Bloomberg

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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Trump Economic Policy

August 10, 2016

Trump Economic Policy

Donald Trump — meat purveyor, TV reality star, and Republican presidential candidate — trotted out some phrases disguised as an economic plan on Monday. They were phases familiar from the last 30 years of the GOP’s trickle-down, deregulating, big-corporate, no-taxes-for-the-rich philosophy, the failed policies that crashed the world economy when Republican leadership was last inflicted upon the nation, making the rich even wealthier at the expense of the rest.

After lambasting the Republican elites and their policies during the primaries, why is Mr. Trump suddenly embracing the old GOP worldview? Looks like he wants those wealthy guys to fund his general election campaign– he’s peddling high-dollar tickets to fundraising events at the homes of the rich. No wonder he named “six guys named Steve” and other billionaire hedge fund and real estate speculators as his “economic advisers“.

More:

“Sliding Trump Seeks Solidarity With Establishment He Spurned,” Sahil Kapur, Bloomberg

“Donald Trump Sells Out to Trickle-Down Economics,” John Cassidy, The New Yorker

“Trump’s Frankenstein economics,” Ben White, Politico

Related:

“Donald Trump wants to slash your child care bill. But he’s doing it all wrong.” Jeff Spross, The Week

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Short Link: http://wp.me/p6sb6-ojJ

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

The New GOP Math: ‘Dynamic Scoring’ Doesn’t Add Up.

January 7, 2015

The New GOP Math: 'Dynamic Scoring' Doesn't Add Up.

Republicans now rule Congress, so the House of Representatives has a new rule: “Above All, Do No Math.” From now on, there’s no problem that can’t be solved by cutting taxes for rich people and corporations. The GOP calls this “Dynamic Scoring,” but others have called it “Voodoo Economics” and “Magical Thinking.” Why? Because it doesn’t work. Paul Ryan wants to call it “Reality-Based Scoring,” but clearly he lives in an Alternate Reality.

The assumption underlying “Dynamic Scoring” is the “Trickle-Down Theory” of economics. In a pre-automobile age this was called the “Horse-and-Sparrow Theory,” because if you fed your horse enough oats surely some would filter through the horse, fall on the road, and feed the sparrows. Then as now, this produces pitifully few oats but a whole lot of horsecrap.

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Happy New Year for the One Percent

January 1, 2015

Happy New Year for the One Percent
Happy New Year, rich people. The GOP Congress is in and the laws of mathematics are out, so the fix is in for people of wealth. Poor and middle class wage earners will pay for even more tax cuts for The One Percent. Ring out Neo-Conservatism and ring in Neo-Feudalism!

More:

“Sorry, GOP, tax cuts don’t pay for themselves,” Joel Dodge, The Week

“Behold, the magic kingdom of dynamic scoring,” Froma Harrop, Seattle Times

“Republicans’ magical thinking is immune to the facts,” Robert B. Reich, Baltimore Sun

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Short Link: http://wp.me/p6sb6-kI7

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht,NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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Millionaire Hostage-Takers

December 5, 2010

Millionaire Hostage-Takers

Republicans in Congress are holding middle class American families hostage at the bidding of their wealthy masters. GOP Congressmen refuse to continue Bush-era tax breaks for middle-income households unless millionaires get tax breaks, too. Astoundingly, they persist in arguing that tax breaks for the rich produces “trickle-down” benefits for the rest of us, the same nonsense they used to lead the country into financial ruin in the first place.

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