Quote:
Originally posted by krwlz
Frowning Budha, If given more time trickle down would have worked....I can almost garauntee it, but as I said, people want immediate results. In turn, most immediate results completely fuck the future...
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krwlz, David Stockman, the guy who masterminded trickle down economics admitted
during the Reagan administration that trickle-down economics was nothing more than a hoax. It doesn't work. You can give whatever reasons for its failure your want to, but the end result is it's a failure.
It seems to me that those people most able to affect our economy have no idea about how to do it. Greenspan cuts the rate, Bush cuts taxes, things just get worse. The fundamental problem with economics is that it is a social science rather than a physical science. You can offer simplified models of human behavior, but in the end you can't know for sure and you sure as hell can't affect their behavior. This tax cut won't do a damn thing to turn the economy around. People with money are going to keep hoarding it, and people without aren't going to get any more. Capitalism is the devil's wet dream, but we haven't anything better yet.