We’ve been playing this ridiculous game since 1981. Republicans destroy the economy by passing tax cuts, but they keep right on spending on the things they want which causes budget deficits and skyrocketing debt. Then they blame the Democrats for “spending too much on social programs.”
It really is time for everyone to get educated about what's going on and educate others. This isn't politics. These are the facts. Trickle-down economics is a giant farce. It’s never worked and it never will. It has gutted our economy over the last 34 years and it will continue to do so. Yet, it’s the only strategy the Republicans have. They have nothing else. Look in between the lines of everything they say in the run up to 2016. It’s all code for Reaganomics, and it’s a failed strategy.
If Mitt Romney would have won the last election he vowed to do more of the same. He was going to issue a 20% across the board tax cut, defund the Afforable Care Act, give the pentagon more money than they were asking for, and cut "everything else we would "have to borrow from China to pay for," including Sesame Street on public television. Then he would have proceeded to enact the Ryan Budget. Reaganomics all the way.
In the following video Bernie Sanders shows us in no uncertain terms how Reagan helped destroy the middle class and how "Trickle Down Economics" is a scam. And guess what folks? Again, it's ALL the Republicans have! Everything they say and do is in support of this failed policy. What will it take to for the masses to see what's going on here?
The Incredible Hoax of Reaganomics- David Stockman 1/3
The Incredible Hoax of Reaganomics- Trickle-Down 2/3
The Incredible Hoax of Reaganomics- The General Electrifying of the President 3/3
The evidence is endless. As the following article explains:
“The wealthiest people spend maybe 30% of their income. Poor people spend 100%, working people spend 98%, so as we move money away from working families towards very wealthy families, we take more and more consumption out of the economy, means slower and slower growth, means higher and higher an extended unemployment.”
Another Major Advisor to President Reagan Admits Trickle-Down Economics Doesn’t Work
In 2012, the nonpartisan Congressional Research Service (CRS) conducted a study and concluded the following:
"The results of the analysis suggest that changes over the past 65 years in the top marginal tax rate and the top capital gains tax rate do not appear correlated with economic growth. The reduction in the top tax rates appears to be uncorrelated with saving, investment, and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie.
However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution. As measured by IRS data, the share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009. Tax policy could have a relation to how the economic pie is sliced—lower top tax rates may be associated with greater income disparities."
Republicans of course tried to suppress the study. Trickle down economics is the central tenet of conservative economic theory. Again, they have nothing else to offer.
This has been the plan all along folks, and that’s exactly what they’ll do if they get the White House. They’ll call any win, no matter how slim, a “mandate.” They’ll say “the American people have spoken, and they’ve assigned us the task of getting our fiscal house in order.” Then they’ll pass The Ryan Budget.
But, but, they’re “God’s Own Party!” Yeah, God help us all if they get that kind of power again, and the Koch Brothers are going to drop a Billion by themselves to try to pull it off. Look at Kansas and Wisconsin right now. That’s the blueprint.
Sen. Bernie Sanders, one of the few people in Washington who makes any sense any longer, had this to say related to what we're explaining here: