I wrote a couple of weeks ago about the con of Trickle Down Economics. Because that’s what I feel it is, a giant con. It was concocted by those with money and power to manipulate a society into believing salvation lies by giving them more while everyone else gets their scraps.
What I believe in is Demand Side Economics. Because you know what Trickle Down Economics fails to address directly? The real driving force behind our economy—demand.
Republicans like to call the wealthy “job creators.” It’s a great way to subjectively tell you that anyone of a certain income bracket creates jobs. They’re not rich. They’re not wealthy. They’re job creators!
In fact I read an article a while back where Republican strategists were telling conservative politicians they needed to avoid the terms “wealthy” or “rich” and find ways to inject the word “jobs” into more speeches.
Notice I didn’t say they told them to pass jobs bills. They simply said they need to say the word “jobs” more often. A good psychological tactic to manipulate the public by using a trigger word in “jobs” while doing nothing to actually create them.
Republicans like to champion their ideology on the premise that the rich and powerful need more so they can then “spread” that wealth down to us by the way of more jobs, better pay and increased benefits.
This, as we know, is a bunch of crap.
Almost all credible evidence of the last 30 years shows the gap between the wealthy and the middle class continues to widen, and at a record pace. This past decade, as the wealthy enjoyed some of the lowest taxes in history, the gap between the top 1% and the rest of us widened at a faster pace than at any other time in our history. I don’t have to remind you this all happened as our country fell into an economic hole not seen since the Great Depression.
But I thought Republicans said the more the top 1% get the better off we’ll all be? That’s what the con tells us, right? So, what’s the deal?
Well as with any con, the promised payoff is just a myth and the person being conned is left standing high and dry.
Trickle Down Economics fails because it doesn’t address the real true force behind our economy, consumer demand.
Sure the theory states that with lower taxes for the wealthy they’ll create more, better paying, jobs. Those new jobs will then result in more personal income for the middle class to spend.
The reality though is that very little trickles down. It’s a fairy tale told to you by the people who stand to benefit the most if you buy into it.
So since Trickle Down Economics has been a total failure for 99% of the country, we need to usher in a new era of economics. Demand Side Economics. It’s time we pass it back up to the top 1% since they’ve shown unequivocally they have no intention of trickling anything down to the rest of us.
We shop at small businesses, they don’t.
We buy millions of products every day, they don’t.
We keep this free market economy rolling, they don’t.
We invest in our country, they don’t.
We are the job creators, not them.
The money they possess comes from our pockets. Without the factory worker, the server, the cashier, or the janitor they don’t enjoy the wealth Americans were conned into giving them. Yes, they spend a lot of money, but they make up 1% of the entire population. There are a lot more of us than there are of them. Sure they make investments, but many of them are in offshore bank accounts or spent on expensive international homes.
They gained power because millions of Americans were naive enough to buy into the idea these individuals, who spend millions lobbying politicians to pay as little in taxes as possible, want to give us some of their loose change.
We witnessed jobs get outsourced, eliminated and consolidated. We saw wages remain stagnate, benefits shrink and pensions all but vanish—while buying into the idea that despite these realities, we need to give them more.
It is genius though, isn’t it? No matter how bad things get they can always say, “How will raising our taxes help? We need more revenue to build jobs!”
And that’s exactly what they do.
But guess what? When times are good, and you mention a possible tax increase, they have a near flawless counter to that as well, “Why would you raise our taxes, do you want to send us back into recession?”
Do you see just how good of a hoax this is?
But it’s all a con.
They’re nobodies without us. If we don’t buy what they’re selling how will they continue to build this wealth they enjoy? They may invest in businesses and have a few ideas, but without us, they have nobody to work at these places.
It’s time we end this nonsense. Three decades, 5 recessions and one near economic depression later—it’s safe to say Trickle Down Economics has been a failure.
At least for 99% of Americans.
It’s time people realize we are the real job creators in this country, not them. It’s time we stopped giving massive tax incentives to these top 1% of Americans while pinning the burden of reducing our deficits solely on the shoulders of the middle class and our poor.
Yes, we need to reduce spending, but it makes absolutely no sense to allow a trillion dollars in tax revenue to be given back to millionaires every year while we pluck that trillion in spending cuts from public jobs and programs that help build and strengthen our middle class.
What it comes down to is if we agree deficits need to be reduced, and most of us do, the money has to come from somewhere. What seems more rational?:
A) Reducing our deficits by cutting programs that benefit the real driving force behind our economy.
B) Slightly higher taxes on those who make millions, so that we don’t have to gut programs, or eliminate public jobs, that middle class Americans desperately need.
Calling a fish a duck doesn’t make it anymore a duck than calling a wealthy person a job creator makes them create a single job. Republicans know this, but it is bad politics to actually admit it.
The middle class needs to stand up and end this joke of an economic policy. It’s time we demand a stop to this myth of Trickle Down Economics.
But hey, the wealthy Americans need not worry, once 99% of Americans have more money in our pocket we’ll be sure to do what you didn’t do—spread it around. We’ll take the lead and fulfill our roles as consumers (the real job creators) and we’ll allow you to go back to what you really are—just the richest 1%.