Our nation’s level of rising income inequality started in the 1980s with the GOP “theory” of Supply Side Economics — otherwise known as “Trickle Down Economics.” Their theory asserts that if taxpayers give the wealthy and corporations huge tax cuts and tax havens, that the bounty produced for the 1% will somehow “Trickle Down” to everyone else and that the entire nation will prosper.
Clearly that theory did not work. There are a multitude of charts and studies that thoroughly de-bunk this idea. And, our own observations and experience tells us that IT DID NOT WORK! Wealth trickled UP, and our nation’s debt ballooned.
But, what we ALL need to understand is that the Republican Party is still advocating for this failed economic policy … and they are actually Doubling-Down on Trickle Down. The Ryan Budget cuts taxes for corporations and the wealthy — it cuts taxes for the affluent to even deeper levels from where they are now, which are already the lowest they’ve been in decades.
THE GOP IS ONLY PROMSING MORE OF THE SAME OLD VOO DOO ECONOMICS!
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