MICHAEL wrote:
"Trickle-down" or Reagan-omics - by whatever name, ONLY WORKS FOR THOSE NEAR THE TOP OF THE TRICKLE.
Michael, obviously you have never run a business, or have been totally brainwashed by liberal economics professors.
As a son of an entrepenuer in the 80s, I personally saw how trickle down works.
Our restaurant was in a town with a tourist based economy. Prior to Reaganomics, our business was bad. People having to pay higher taxes had less disposbale income. They did not travel as far away from home. Our business income was hurt, and we had to cut hours, and even let people go.
During the height of Reaganomics, less taxes. The people that had more money to spend because of their newly lowered tax rate decided to travel more. Or perhaps go into business, and make more money. These people went on vacations to my old home town and spent money. They needed to eat while there, and so we had more demand, so we were able to rehire the people we were forced to let go, and also increase the hours of those that hed their hours cut back.
We were also able to offer more benefits to our employees, ie. healthcare, dental, vision. We had a very progressive company. Now since our employees had more money, because our business was making more money and because our patrons were making more money, our employees could do things that they couldn't do prior to Reagan-omics. They bought cars, houses, things like that.
So you see Michael, one dinky little restaurant in a two-horse tourist town was a prime benefactor of trickle-down economics. Which works, and why the USSR and Economic Socialism in general, is now relegated to the trash dump.
THANK YOU, COME AGAIN!
LABD