Obama and Trickle-down Economics
by James Glaser
April 8, 2009
I always thought of the trickle-down economic theory to be from the Republican side of the aisle, but it seems that President Barack Obama, a Democrat, has adopted it. Somehow Barack Obama has come to the conclusion that if he throws enough money at the top of the income ladder, some of that money will trickle down to the people who most need it.
Let's face it. Even though Wall Street and the banks are in trouble, the people who work on Wall Street and in those banks are not the people getting hit the hardest by this recession. Those are the people though, that our new president is sending our money to. It is his belief that by refinancing those at the top, those of us at the bottom will benefit.
I think the reason I assumed that the "trickle-down" plan was a Republican idea instead of from the Democrats was Ronald Reagan and his "supply-side economics" or Reaganomics. That was where helping out the rich was supposed to help out the poor. But, as I checked into it, I found that the Democrats were hand-in-hand with President Reagan in getting his brand of trickle-down implemented.
Cutting those taxes was supposed to make the rich richer, which was supposed to make every one else on the income ladder a bit better off as that money flowed down hill.
Today, Barack Obama is trying the same thing. Trickle-down economics is not a Republican or a Democrat idea, it is an idea from the wealthy class of America. Both parties love it because they can dish out money to the rich, and at the same time they can tell the middle class and the poor of America that they are really doing it for them.
In yesterday's column I wrote that, so far, America had almost 40,000 casualties in George Bush's and now Barack Obama's war in Iraq. I was way off. If I add in all the troops who have suffered traumatic brain injuries and all those troops who are suffering from Post Traumatic Stress Disorder (PTSD) that number of casualties goes up to over a half million of our troops suffering life-long injuries.
That information came from Brain Injury News. http://braininjury.blogs.com/braininjury/2008/05/traumatic-brain.html
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