One of the most important things that congress has to before the end of the year is vote on extending the Bush tax cuts. Obama wants the middle class tax cuts to remain but make the tax on the top 2% of the country expire, the Republicans are calling for all or nothing on the tax cuts.
The Republicans say that by giving millionaires over $100,000 in tax breaks it they will trickle the money onto the middle class under what is known as the Butake school of economics and point out the last fact that last President to raise taxes on the rich during a recession was Ronald Reagan (Just joking they don’t care about facts).
The fact is Downtrickling has never worked, if the tax cuts stimulated the economy then they would have during GW Bush’s administration but instead the middle classes income growth was negative. If the rich trickled on the middle class it wasn’t with money. This year the rich are experiencing record earnings while the middle class experiences record misery. Expecting the middle class to get excited at the top 1% of taxpayers enjoying themselves is like expecting the victim of Butake to get satisfaction during the act.
So to all those people who continue to push trickle down economics as if it were a legitimate economic theory I say, “Shut-up Stupid, Downtrickling is not helping the economy it is just giving the middle class a Golden Shower.”
By Darrell B. Nelson author of Invasive Thoughts
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1 comment:
If not a s**tstorm.
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