TRY IT ONE MORE TIME…TRICKLE DOWN ECONOMICS DIDN’T WORK THEN, WILL NOT WORK NOW
I know Republicans and Tea Baggers don’t read my blog; not one that expresses progressive-liberal ideas; this group it seems more likely than any other to be susceptible to “selective reasoning”. These people could not possibly assimilate anything other than a one-liner, slogan or talking point that can’t be put on a hateful bumper sticker.
It is unfathomable to me how these people, the majority of which are either lower middle class or poor, who don’t have a pot to piss in or a window to throw it out of would fight a bloody battle to extend the Bush tax cuts to the very rich. It is also not clear to me how they refuse to put the blame where it belongs: the Republicans and a failed Bush administration. Now they are being misled by lies and talking points into believeing that tax cuts for the very rich is a good thing…kind of like “Trickle Down Economics” because supposedly they will make it percolate down to the lower income classes. NOT!
Robert Reich best explains it this way: He cites the work of analysts who have tracked the increasing share of national income that has gone to the top 1 percent of earners since the 1970s, when their share was 8 percent to 9 percent. In the 1980s, it rose to 10 percent to 14 percent. In the late-’90s, it was 15 percent to 19 percent. In 2005, it passed 21 percent. By 2007, the last year for which complete data are available, the richest 1 percent were taking more than 23 percent of all income.
The richest one-tenth of 1 percent, representing just 13,000 households, took in more than 11 percent of total income in 2007.
Why in the hell would anybody want to give these folks tax breaks when they are not asking for them nor do they need it? Yet we know that it is going to be done with borrowed money that will pile up even more to our already alarming national debt.
SOURCE: http://www.rbguy.dailykos.com/