Rshermr
VIP Member
You lived thru it and don't remember libs calling it trickle down?Well, Toddster, I lived through that time too. About 10 years after my degree in economics. So, I was really interested in Reaganomics, and how in hell it was supposed to work.I lived thru illiterate Dems calling the Reagan tax cuts "trickle down".
So, what you are saying is that you have no links that back up what you have said. No one really BELIEVES that dems came up with the idea. But there are at least 50 bat shit crazy con web sites trying to say that it WAS the case. Which I am sure you are aware of. So, I was wondering if you would take the method you used in addressing the issue, or if you would trot out a good con tool site. One of the many that are saying EXACTLY THE SAME THING. But with no source. Just as you have no source.
So, what source should I pick. Could start with Wikipedia, just to get a start and see where that leads:
Ya think we should check out this guy, Stockman?? He was Budget Director for Reagan. Hell, he would know!!! And as a reference, he would rate as the gold standard:
But trickle-down economics was a wish, not a reality. Its never worked. Lower taxes dont generate more revenue. They generate deficits.
Reagan knew it. So did Stockman. So did their guru, Friederich von Hayek. The deficits were intentional all along. They were designed to starve the beast, meaning intentionally cut revenue as a way of pressuring Congress to cut the New Deal programs Reagan wanted to demolish. The plan, Stockman told Sen. Daniel Patrick Moynihan at the time, was to have a strategic deficit that would give you an argument for cutting back the programs that werent desired. It got out of hand.
David Stockman: How Nixon, Reagan, the Bushes and their GOP Demolished the Economy - David Stockman on Deficit Spending | FlaglerLive - Your News Service for Flagler County News Palm Coast News Bunnell Flagler Beach Beverly Beach and Marineland
Now, there is much, much more. From others who had a reason to know. But the bottom line is that trickle down was a theory that had been around for years. It was once known as the horse and sparrow theory, in which you fed the horse (the wealthy) a bag of grain, and the sparrow (those not wealthy) benefited from the seed in the horse crap.
You lived thru it and don't remember libs calling it trickle down?
The deficits were intentional all along. They were designed to starve the beast, meaning intentionally cut revenue
The tax cuts reduced revenue? When?
Sure i do. But the concept/theory was not brought forward by, nor pushed, by dems. It was the repubs who were trying to sell the concept.
The deficits were intentional all along. They were designed to “starve the beast,” meaning intentionally cut revenue
The tax cuts reduced revenue? When?
Well, I could understand how you missed it. Those were good years for drugs. But, those of us who were sober noticed. Sorry to surprise you so.
Despite the aggressive tax cutting, Reagan couldn't ignore the budget deficit, which was burgeoning.
After Reagan's first year in office, the annual deficit was 2.6% of gross domestic product. But it hit a high of 6% in 1983, stayed in the 5% range for the next three years
Taxes: What people forget about Reagan - Sep. 8, 2010
People actually interested in the truth can find out what actually happened during these years. Sorry you do not follow history.