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Old 07-20-2004, 10:58 PM   #43 (permalink)
Zeld2.0
Cherry-pickin' devil's advocate
 
Location: Los Angeles
The left isn't the one taking credit for other people's work.

And honestly, its not confined to the right or left. Every party says "your economy as good cause of our president, ours is bad because of yours" etc. (unless, of course, there is a string of the same presidents).

As for supply-side economics itself?

I think the core issue is the trickle-down effect. People already with loads and loads of money are less likely to spend that tax cut. If they already have so much money, do they really need a cut to spend on whatever they need? It is highly, highly unlikely they are suddenly going to spend say $10,000 in a cut when their income might pull in over a million in the year even after taxes.

As Scipio stated, its far more likely that the lower and middle class will benefit more from the tax cut, and will influence the economy more directly.

If a poor family is trying to make ends meet and gets a $2000 cut all of a sudden, isn't it more likely they'll spend that money to make ends meet? They'll buy food and whatever they need.

That is more likely to influence the economy directly than a person who already has a ton of money and isn't spending it anyways.

And what is better is that directly buying those products means profits will go up to the owners of those businesses.

This feels more like the "trickle-up" economy - though it defies gravity, it's more likely to happen.
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