Trump just gave a speech in which he called for a 4% increase in the nation’s economic growth rate while pushing for a $4.4 trillion tax cut over a ten-year period.
I’m not an economist but I’m not totally ignorant of the subject. I read through Fox’s story on Trump’s economic plan and found it to be just more of the same old trickle down bullshit that has never benefited anyone other than the upper levels of society. More of the rich get richer nonsense we’ve been hearing since Ronald Reagan came to office with his supply side voodoo economics. Almost forty years later the middle class has fallen on hard times while the upper one percent have never had it so good. The disparity in income between the rich and poor may never been greater than today.
I do have a question for the economic experts. Has there ever been an example of an unfunded, multi-trillion dollar, tax cut having a positive effect on the US economy? I know there are examples of government using its spending power to stimulate economic growth. For example, in the 1960s the government pumped tons of money into the space program and in places like Southern California, Houston, TX, and Central Florida the job market flourished.
It seems, however, that tax cuts usually end up in the pockets of those who don’t need the money and it doesn’t trickle down. It also seems to me that tax cuts ultimately end up in greater national debt and decreased governmental services. The infrastructure of America is crumbling because needed funds have been diverted from essential government services into the mortgage retirement funds of the one-percenters.
There’s no shortage of Nobel winning economists who constantly remind us that supply side trickle down economics simply and plainly don’t work. The times America has experienced real economic prosperity have been times when government acted as a moderator between the classes and when government revenues were high enough to take care of more than just the bare essentials.
The simple reality is, the trickle downers are the rich, and the rich don’t won’t to take any chances that they won’t stay the rich. Conservative economics are their get out of jail free card. It’s their I’ll always be living on top the mountain insurance policy. If you as a working person ever want a better life you’ve got to come face to face with the reality that, as Trump loves to say, the system is rigged but it’s not rigged in your favor.