Trickle Down Economics: The Biggest Con In Politics
Now, I know Republicans would strongly disagree with the title of this blog. Then again, Republicans and “think” don’t often go hand in hand.
Here is a quick explanation to what Trickle Down Economics actually is for someone who may not know:
Trickle Down Economics is the belief that as the wealthy or big corporations increase profits or are taxed less, they will then “trickle” those excess profits down to the rest of us in the way of more jobs, increased pay, and better benefits.
Sounds great right? In theory, yes it does.
However, it doesn’t take into account the one flaw we’ve faced since the dawn of humanity- basic human nature. Human nature is often very greedy, and those who seem have the most tend to be the greediest.
The saying “absolute power corrupts absolutely” in reality means power of any kind often corrupts. With our society placing so much emphasis on money it has made having money power. Trickle Down Economics takes the health of a nation into the hands of the rich and powerful.
Who stands to gain by building an entire party around a philosophy such as this? It doesn’t take rocket science to figure that out- the rich and powerful. Who has continued to have a bigger role in politics such as the Citizens United ruling that allows big corporations the freedom to give whatever money they desire towards a political purpose? You guessed it, big business and the wealthy.
Almost all information you can find on the web over the last 30+ years shows that middle class pay has been fairly stagnant. The 1%’s income in this country has skyrocketed and never more so than in the last decade. Yet even with that information, you have millions of Americans in this country blindly accepting this theory of economics next to the Bible as far as “must have” faith and ideology.
A magnificent con.
The rich and powerful have convinced millions to vote against their own interest. Right now instead of raising taxes slightly on people who make millions, an entire political party has focused on cutting programs that mostly help lower and middle class Americans. They’ve screamed class warfare, yet have not allowed a single deficit reduction solution that includes a single sacrifice from the Top 1%, not even eliminating a tax break for people who buy corporate jets.
It seems insane to think a middle class American would fight to protect the tax rate of someone who makes 100x what they make, all while advocating the slashing of programs they themselves benefit from.
And the worst things get, the more tax breaks and tax cuts they want because they have a perfect talking point that makes absolute sense:
“Well, how will raising our taxes create jobs? We need lower taxes so we can create jobs and boost the economy!”
They’re right, raising taxes won’t help create jobs, but lowering them didn’t help either. At least with increased tax revenue we wouldn’t need such drastic cuts to public jobs like Republicans have done for the last year, cutting around 300,000-600,000 in 2011.
Imagine hypothetically if our deficit was zero but our tax increase was at the level Obama has suggested. By Boehner’s own words this would generate $1 trillion dollars in tax revenue. How many public jobs could we create with $1 trillion dollars? How many programs could we fund that would help Americans? How many roads could we repair? National Parks kept up? Public transportation projects built? You get the idea.
They ignore the fact that we had historic economic growth and all-time low unemployment rates under President Clinton with higher taxes. They’ve also ignored the fact that we faced the worst economic crash in 80 years and shed millions of jobs while we had the lowest tax rates in our countries history. These are two simple realities that easily prove the falsity of the Republican rhetoric that “tax cuts are vital for job creation”.
Ask yourself these questions: Over the last 30 years are most jobs gaining or losing benefits? Are people gaining or losing their pensions? Working less or more? Health care plans getting better or worse? Keep in mind when you answer these that over the last 30 years executive pay and benefits have hit historic highs and corporate profits have skyrocketed.
It’s a great scam because the terminology in both its application and rebuttal to opposition it makes great talking points:
“The more profits we get to keep the more jobs we can create.”
“How will raising our taxes help us create jobs?”
Both are right, however reality has proven that neither actually produces jobs either. So the argument is really about more tax revenue with no job creation, or less tax revenue with the same lack of job creation. Logic says a country should take the tax revenue if the tax breaks didn’t actually create jobs, and they haven’t.
What Republicans have done though is taken this ideology of greed, manipulated the American people by masking it in a cloak of Christian values and then successfully deceived a large portion of the American population to vote against their own best interest. The astonishing part is that it has actually worked!
It’s one of the greatest cons in human history. They’ve co-opted the Christian faith and twisted it into a hateful, judgmental, ignorant group of cult like followers to support an agenda of greed. They’ve built their economic base upon the idea that our best interest and economic salvation are found by giving those with the most wealth and power even more of both.
Just sit and think about that for a second…
What a great con.