Believe those who are seeking the truth. Doubt those who find it.
Tuesday, September 28, 2010
TR, 11:15am
19 comments:
Anonymous
said...
Ya I believe in the trickle down effect. 5% of the world population has 95% of the wealth!! But supposedly that 5% workded hard for their money. You have the guy at BurgerKing flipping burgers for minninum wage and the CEO who signs a couple of papers a year for millions of dollars. The economy is bad right now because people are not spending, so people are loosing their jobs because is no demand and they're loosing their homes because they can't afford them anymore. I think there needs to be a better system for distribution of wealth. Otherwise there will always be Recessions and Depressions.
I for one don’t’ really believe in trickle down economics. I mean why should the wealthy businesses and CEO’s of this world get tax breaks and benefits, when the working middle class Americans are struggling doesn’t make a whole lot of sense to me. I know they do it so that business can prosper and provide better quality products at a cheap price for the consumer population. But when the economy is bad and people are losing their jobs it doesn’t matter how cheap the products are people are going to be buying much. So instead of tax breaks and benefits for the big business why not for the majority of the population that has to consume to keep businesses from going under.
Is the trickle-down effect even an authentic thing? When looking at the economy, more industrialized than ever, outsourcing like mad, and foolish government spending decisions being made, we must first go to the source of the issue. Is industrialization ALWAYS a good thing for the middle and lower classes? In the past years, it seems that modernization is the root issue to people losing their jobs-- their income. The wealthy grow wealthier, the poor poorer, right? However, some feel that the wealthier you are, the higher percentage of tax you should pay. Punishment for meritocracy? Is this really what we feel our tax cuts should be encouraging? Yeah, lets go ahead and let the little guy off the hook-- cut their taxes, but raise the wealthy's. Sorry, but foolish.
Examining an even deeper issue, education plays an integral part in the bad economy. When tax dollars are being stolen away from Horace Mann's approach to educate all men (and women) freely in this country, people grow up ill-equipped to be thinkers. Therefore, they cannot reach a height of success, but rather dwell in their sorrows as they bounce from one unstable job to the next, if they can even maintain that.
If tax cuts are kept for the wealthier and taken away from the lower and middle classes, there is maybe a slim chance of the wealth, and the success trickling down so that the poor can satisfy their thirst for money. But think again: is MONEY the issue? Isn't good education a greater concern? We have become a "trade" society. High school drop-out rates, while they have lowered in the past 5 years, aren't even the concern anymore. Rather, the concern is quality education. IF we continue to tax, where should those tax dollars be funneled? Education: Quality education, quality educators, producing thinkers rather than trade-school robots. Maybe Thomas Jefferson had a point when he pushed for rationalistic thinking being taught in this society. Thomas Jefferson is being silenced in some states, literally laid-to-rest (i.e. Texas education) because of his vision, to really educate our students to think for themselves. Maybe it's time our government revisits Jefferson's logic. Keep taxing, reward those who work hard (meritocracy), and produce THINKERS, so America can become a government and a society who THINKS before they act.
Today "trickle-down economics" is most closely identified with the economic policies of the Ronald Reagan administration, known as Reaganomics or supply-side economics. A major feature of these policies was the reduction of tax rates on capital gains, corporate income, and higher individual incomes, along with the reduction or elimination of various excise taxes.
I believe that there is the trickle down effect. How is the econonomy suppose to pick up, when the rich get tax breaks and the poor keep getting more and more taxes on the little money the have. People keep asking why the situation doesn't improve, when the goverment is still fooling around with the economy and doesn't getting serious to solve these problems.
I think if there was a survey the statistics wouldn’t be as good as expected. The main premise of the “Trickle down economic” is that a rising tide raises all boats. The idea is if we keep the wealthy people's tax burden light, the wealthy will invest that extra money to create jobs, and everyone will be better off. However, I don’t agree that lower class income families would have to pay more taxes. There could be a precise chance that the wealthy people won’t bother opening new opportunities. My point in this post is that when wealth generation is strongly concentrated at the top, it is bad for the economy. -Cristine Lopez-
I find trickledown economics absurd. To think that the rich will actually use the extra money from tax breaks towards investments that lead to more jobs and money being distributed among the lower income population. You know in theory it sounds good but in reality the rich could care less. There’s no way in hell that you would see this happening. And if it does then it’s the new wave of prosperity heading our way! In all fairness and to not insult my intelligence I really don’t see this happening. I mean, this plan isn’t even a guarantee. I know taxes are guaranteed according to Benjamin Franklin. Only those who could actually afford lobbyists to make sure legislation like this actually got thru ARE THE RICH. What can regular Joe who earns minimum wage in some nowhere towns actually do to change that? Vote? Please spare me. The majority of the population who aren’t even close to knowing what economy really is and how it works don’t even know where to begin to change things. I work in a place where I see really wealthy people throw thousands of dollars away in a night. Literally! I had a guy throw 20 grand in front of me. I see the cars they drive. Lambo’s, Ferrari’s. You name it. Do you really think they’re going to let CEO bonuses go towards new investments? They’re making ridiculous amounts of money already. It’s just another vacation somewhere offshore. And even if they do decide to stay at home and not spend this extra cash they’re going to save it. It’s like compulsive disorder, the more they have the more they want to keep. I also find it boggling that we all who live in this country, we who are endowed the chance of actually having the opportunity to open a business on this land and make money (yes I understand the risk in opening a business and the hard work to make is successful) and yet complain on being taxed once we actually succeed in becoming wealthy. Let me guess…you feel as if you should be rewarded? You should keep your earned. Well, I’m sorry to break it to you but to live in this country and enjoy what it has to offer comes with a price. The world owes you nothing. That is how it is. Or maybe live in a place where you have no freedom or security (better security than most). -Jose Luis Guerra
I simply will start by saying, I agree with the trickle-down economy concept. Cutting taxes for a period of time will free more money for people to use according to what they need. The rich will be able to invest more in the economy creating new jobs as they create new businesses. The part of the population that has big debts will be able to pay that and eventually free more of their money to buy in the market. Is cutting taxes the final solution for our economy issues? I am sure is not. It was actually keeps this country running and it has for centuries. But, when we notice that people are not putting the money in the market because they rather put it in a safe place until the market prices go down, then the government must bring those prices down by cutting taxes on house builders, new business creators, and many other means of job creating businesses. It is a solution that needs to have a well-defined period to operate, for no country can survive without taxes being collected. Finally, people need to be educated on the real purpose of tax cutting. The people of the USA need to understand that is not a break giving so they we can safe more, what the government wants is for you to put that money back in the market so as to bring the economy up, which will lead to many more benefits.
I disagree with the trickle down effect. I don't see how lowering taxes for those who are more wealthy can help us whom are struggling to pay our taxes. It seems to me that when something doesn't work that you should try something new. So when is the government going to actually help those in need instead of kissing the asses of those who sit so high on their throwns of cash. I don't mean to be vulgar or judgemental but when I actually see a better outcome I'll believe in trickle down economics.
I am in disagreement with the theory of trickle down economics. I think it seems unfair that people who make the most money get to pay less taxes. It's also untrue that because they pay fewer taxes they help drive the economy.People who make a that much money spend it either way, and if they have a business they will work hard to keep it running. Tax cuts for the rich does not mean that they'll hire more people or put that much more into the economy. I agree with William Gale, the best thing the government can do is invest in programs to create jobs, after all the new deal is what brought us out of the great depression.
The theory sounds reasonable and I could see it happening, if the rich will turn that money from tax breaks into the economy, and create new jobs, and new businesses then the middle and lower class people will be able to start straighten they life out. On the other hand we had so many of these false promises before and until we don’t see a better outcome the middle and lower class will not believe in the trickle down economy.
The tax cut theory or practice, is a very complex and risky action. It is my belief that it’s a good idea, only because in the long run it is helping Americans with American jobs. The way it works is if you have a business and you are struggling with the high taxes set by the government. Then the tax cut will allow you to save your money that would otherwise be spent on these taxes. In turn allowing you to take in more money which in turn will let you lower the prices, because of no or low taxes. Then once the profit begins, then you can hire more people to help. This will give for more jobs. What was said by John Berthoud, president of the Taxpayers Union was completely false because economic growth as we all know it has been a nice steady decrease over the years. And the little bit of what may be growth is just a comfort blanket of false money borrowed by the money. So tax cuts of actual American jobs will in the long wrong help American jobs and the economy. It is sad though our kids will be paying off the mistakes of our time. -Cinderella Santos
I do not believe that trickle-down economics are good for any economy. In my opinion, it gives to much money and power towards the wealthy. When that happens I believe that leads to corruption and the eventual mismanagement of money. Also, trickle-down economics have a horrible history especially after the economic crisis that we are still going through. I respect that most of the wealthy in this country have worked hard to earn what they receive in pay, but they deserve to get taxed like everyone else in my opinion. -Grant Kunkel
We live in a country where every single person that work have to pay taxes, it is not fare for low and middle income persons to pay higher taxes than businesses and wealthy people. The workers are not able to paid high amount of taxes because sometimes their salary is so low that only gets to pay rent, bills and daily food; and they can not afford to pay higher taxes. I think the tax reductions should be for everybody depending on their annual income. The wealthy people and businesses should not be the only ones seeing the government tax reductions and benefits. Everybody should benefit the same way
The poor will be poorer and the rich, richer. It does not make any sense to give tax cuts on people that make millions a year and take mroe from those who are barely making it. The problem with this idea is that only the wealthy people will benefit from it. As Linda Beale explains, researches have shown that tax cuts are not the best way to push economy and even if we raise taxes on wealthier population, they will still spend regardless of how much tax they pay. Most of our taxes is already going back to the higher brackets and what are we getting? This idea has no evidence to support the outcomes cited before.
The idea of tax cuts works out for economy when the benefits of the tax cuts are sent directly to investment and job creation which favors the lower class. The tax cuts benefit the wealthy population, those with high income. In American progressive income tax system (the more you earn, the more you pay), tax cuts are supposed to give more initiative for business to develop, grow and invest while giving the opportunity for lower class income to earn more, thus “spreading out” the wealth. But in reality it doesn’t work exactly like that. It’s questionable what part of the money saved from the tax cuts goes to the development of the economy and how many more job are created. The other thing if it’s worth the government income which can be added to the budget without tax cuts. But in situation of the economy in the phase of a weak and slow recovery, returning tax rates to the regular levels might lead to lowering down the income when wealthy businesses get the higher taxes on extra income which, in turn, lead to laying off employees and reducing the levels of investment. That will slow down the economy even more. But from the other hand, the government will gain significant raise of income from the tax payers who no longer have the tax cuts benefits. In order to choose between those two alternatives, it’s necessary to figure out which one brings more income and less damage for economy and business development. For the government, that’s the questions of economy as a whole, while for population, that’s the question of personal consumption and earnings. Cutting taxes lets the economy grow and prosper in the long run but it’s important how well and how much of this money is invested in the growth. Anastasiya Soldatova
As little as I know about economy, this principle is based on the fact that if the wealthy class and the businesses, which play a vital role for our country's economy, receive a tax break they could invest that saved money in improving products and making them cheaper for the population. This ideology appears to me as completely invalid. For one, even if these businesses would truly decrease the price of their goods the consumption would still be low. Many people of the middle and low class nowadays simply do not have the possibility to buy, because their income is not sufficient. We are not living in the appropriate time to consume and waste money, after so many million people have lost their homes, are in immense debts, and are currently doing the best to maintain their family lives intact. We have been able to see a very similar effect of this principle in the past two years. In that time businesses gave outrageous bonuses to their CEO's which was proven to be one of the major causes of the bankruptcy of certain businesses, such as Washington Mutual and Wachovia. If their is one thing I understand in economy is that it is based on the simple but essential ideology of "supply and demand." These two terms have to be working in correspondence to each other, and only if they're both at its maximum then a economy can flourish. Right now our economy will not improve; after so many million people have lost their jobs, there is simply no demand for goods, but on the other hand the supply is still high.
"Trickle down economics" is a risk to take than can benefit the United States greatly. By providing tax breaks to the people with high income means that instead of paying more money to the government, they will spend their money on investments. Once the economy is being fed it will create more jobs availabilities for the middle and lower class. I believe that the economy grows from the top to the bottom. The more that the wealthy will buy the more jobs will become available. A demand for goods and services will be in demand which supply would be established.
Trickle down economics? It seems to me that the rich will spend money, whether or not they are getting the extra $10,000 tax cut, simply because while to most of the world ten thousand dollars is a huge amount of money but for those people making more than $250,000 a year $10,000 is less than 2.5% of their income- pocket change if you will. The major error in trickle down economics is that while the rich are spending their money in fancy boutiques and on lavish vacations the people who are expected to benefit from their spending are not because the products they sell are not of the caliber that is expected. The demand for products in low income areas is high and the supply is low for the most part while upper middle class and upper class areas are plagued with the exact opposite problem, goods and products go to waste because the supply is much larger than the demand. Trickle down economics has no way to guarantee where the money goes and at which rate it flows leaving a very unstable economy where the domino effect takes down whole communities one by one.
19 comments:
Ya I believe in the trickle down effect. 5% of the world population has 95% of the wealth!! But supposedly that 5% workded hard for their money. You have the guy at BurgerKing flipping burgers for minninum wage and the CEO who signs a couple of papers a year for millions of dollars. The economy is bad right now because people are not spending, so people are loosing their jobs because is no demand and they're loosing their homes because they can't afford them anymore. I think there needs to be a better system for distribution of wealth. Otherwise there will always be Recessions and Depressions.
I for one don’t’ really believe in trickle down economics. I mean why should the wealthy businesses and CEO’s of this world get tax breaks and benefits, when the working middle class Americans are struggling doesn’t make a whole lot of sense to me. I know they do it so that business can prosper and provide better quality products at a cheap price for the consumer population. But when the economy is bad and people are losing their jobs it doesn’t matter how cheap the products are people are going to be buying much. So instead of tax breaks and benefits for the big business why not for the majority of the population that has to consume to keep businesses from going under.
Is the trickle-down effect even an authentic thing? When looking at the economy, more industrialized than ever, outsourcing like mad, and foolish government spending decisions being made, we must first go to the source of the issue. Is industrialization ALWAYS a good thing for the middle and lower classes? In the past years, it seems that modernization is the root issue to people losing their jobs-- their income. The wealthy grow wealthier, the poor poorer, right? However, some feel that the wealthier you are, the higher percentage of tax you should pay. Punishment for meritocracy? Is this really what we feel our tax cuts should be encouraging? Yeah, lets go ahead and let the little guy off the hook-- cut their taxes, but raise the wealthy's. Sorry, but foolish.
Examining an even deeper issue, education plays an integral part in the bad economy. When tax dollars are being stolen away from Horace Mann's approach to educate all men (and women) freely in this country, people grow up ill-equipped to be thinkers. Therefore, they cannot reach a height of success, but rather dwell in their sorrows as they bounce from one unstable job to the next, if they can even maintain that.
If tax cuts are kept for the wealthier and taken away from the lower and middle classes, there is maybe a slim chance of the wealth, and the success trickling down so that the poor can satisfy their thirst for money. But think again: is MONEY the issue? Isn't good education a greater concern? We have become a "trade" society. High school drop-out rates, while they have lowered in the past 5 years, aren't even the concern anymore. Rather, the concern is quality education. IF we continue to tax, where should those tax dollars be funneled? Education: Quality education, quality educators, producing thinkers rather than trade-school robots. Maybe Thomas Jefferson had a point when he pushed for rationalistic thinking being taught in this society. Thomas Jefferson is being silenced in some states, literally laid-to-rest (i.e. Texas education) because of his vision, to really educate our students to think for themselves. Maybe it's time our government revisits Jefferson's logic. Keep taxing, reward those who work hard (meritocracy), and produce THINKERS, so America can become a government and a society who THINKS before they act.
Today "trickle-down economics" is most closely identified with the economic policies of the Ronald Reagan administration, known as Reaganomics or supply-side economics. A major feature of these policies was the reduction of tax rates on capital gains, corporate income, and higher individual incomes, along with the reduction or elimination of various excise taxes.
I believe that there is the trickle down effect. How is the econonomy suppose to pick up, when the rich get tax breaks and the poor keep getting more and more taxes on the little money the have. People keep asking why the situation doesn't improve, when the goverment is still fooling around with the economy and doesn't getting serious to solve these problems.
I think if there was a survey the statistics wouldn’t be as good as expected. The main premise of the “Trickle down economic” is that a rising tide raises all boats. The idea is if we keep the wealthy people's tax burden light, the wealthy will invest that extra money to create jobs, and everyone will be better off. However, I don’t agree that lower class income families would have to pay more taxes. There could be a precise chance that the wealthy people won’t bother opening new opportunities. My point in this post is that when wealth generation is strongly concentrated at the top, it is bad for the economy.
-Cristine Lopez-
I find trickledown economics absurd. To think that the rich will actually use the extra money from tax breaks towards investments that lead to more jobs and money being distributed among the lower income population. You know in theory it sounds good but in reality the rich could care less. There’s no way in hell that you would see this happening. And if it does then it’s the new wave of prosperity heading our way! In all fairness and to not insult my intelligence I really don’t see this happening. I mean, this plan isn’t even a guarantee. I know taxes are guaranteed according to Benjamin Franklin. Only those who could actually afford lobbyists to make sure legislation like this actually got thru ARE THE RICH. What can regular Joe who earns minimum wage in some nowhere towns actually do to change that? Vote? Please spare me. The majority of the population who aren’t even close to knowing what economy really is and how it works don’t even know where to begin to change things. I work in a place where I see really wealthy people throw thousands of dollars away in a night. Literally! I had a guy throw 20 grand in front of me. I see the cars they drive. Lambo’s, Ferrari’s. You name it. Do you really think they’re going to let CEO bonuses go towards new investments? They’re making ridiculous amounts of money already. It’s just another vacation somewhere offshore. And even if they do decide to stay at home and not spend this extra cash they’re going to save it. It’s like compulsive disorder, the more they have the more they want to keep.
I also find it boggling that we all who live in this country, we who are endowed the chance of actually having the opportunity to open a business on this land and make money (yes I understand the risk in opening a business and the hard work to make is successful) and yet complain on being taxed once we actually succeed in becoming wealthy. Let me guess…you feel as if you should be rewarded? You should keep your earned. Well, I’m sorry to break it to you but to live in this country and enjoy what it has to offer comes with a price. The world owes you nothing. That is how it is. Or maybe live in a place where you have no freedom or security (better security than most).
-Jose Luis Guerra
I simply will start by saying, I agree with the trickle-down economy concept. Cutting taxes for a period of time will free more money for people to use according to what they need. The rich will be able to invest more in the economy creating new jobs as they create new businesses. The part of the population that has big debts will be able to pay that and eventually free more of their money to buy in the market. Is cutting taxes the final solution for our economy issues? I am sure is not. It was actually keeps this country running and it has for centuries. But, when we notice that people are not putting the money in the market because they rather put it in a safe place until the market prices go down, then the government must bring those prices down by cutting taxes on house builders, new business creators, and many other means of job creating businesses. It is a solution that needs to have a well-defined period to operate, for no country can survive without taxes being collected. Finally, people need to be educated on the real purpose of tax cutting. The people of the USA need to understand that is not a break giving so they we can safe more, what the government wants is for you to put that money back in the market so as to bring the economy up, which will lead to many more benefits.
I disagree with the trickle down effect. I don't see how lowering taxes for those who are more wealthy can help us whom are struggling to pay our taxes. It seems to me that when something doesn't work that you should try something new. So when is the government going to actually help those in need instead of kissing the asses of those who sit so high on their throwns of cash. I don't mean to be vulgar or judgemental but when I actually see a better outcome I'll believe in trickle down economics.
I am in disagreement with the theory of trickle down economics. I think it seems unfair that people who make the most money get to pay less taxes. It's also untrue that because they pay fewer taxes they help drive the economy.People who make a that much money spend it either way, and if they have a business they will work hard to keep it running. Tax cuts for the rich does not mean that they'll hire more people or put that much more into the economy. I agree with William Gale, the best thing the government can do is invest in programs to create jobs, after all the new deal is what brought us out of the great depression.
The theory sounds reasonable and I could see it happening, if the rich will turn that money from tax breaks into the economy, and create new jobs, and new businesses then the middle and lower class people will be able to start straighten they life out. On the other hand we had so many of these false promises before and until we don’t see a better outcome the middle and lower class will not believe in the trickle down economy.
The tax cut theory or practice, is a very complex and risky action. It is my belief that it’s a good idea, only because in the long run it is helping Americans with American jobs. The way it works is if you have a business and you are struggling with the high taxes set by the government. Then the tax cut will allow you to save your money that would otherwise be spent on these taxes. In turn allowing you to take in more money which in turn will let you lower the prices, because of no or low taxes. Then once the profit begins, then you can hire more people to help. This will give for more jobs.
What was said by John Berthoud, president of the Taxpayers Union was completely false because economic growth as we all know it has been a nice steady decrease over the years. And the little bit of what may be growth is just a comfort blanket of false money borrowed by the money. So tax cuts of actual American jobs will in the long wrong help American jobs and the economy. It is sad though our kids will be paying off the mistakes of our time.
-Cinderella Santos
I do not believe that trickle-down economics are good for any economy. In my opinion, it gives to much money and power towards the wealthy. When that happens I believe that leads to corruption and the eventual mismanagement of money. Also, trickle-down economics have a horrible history especially after the economic crisis that we are still going through. I respect that most of the wealthy in this country have worked hard to earn what they receive in pay, but they deserve to get taxed like everyone else in my opinion.
-Grant Kunkel
We live in a country where every single person that work have to pay taxes, it is not fare for low and middle income persons to pay higher taxes than businesses and wealthy people. The workers are not able to paid high amount of taxes because sometimes their salary is so low that only gets to pay rent, bills and daily food; and they can not afford to pay higher taxes. I think the tax reductions should be for everybody depending on their annual income. The wealthy people and businesses should not be the only ones seeing the government tax reductions and benefits. Everybody should benefit the same way
The poor will be poorer and the rich, richer. It does not make any sense to give tax cuts on people that make millions a year and take mroe from those who are barely making it. The problem with this idea is that only the wealthy people will benefit from it. As Linda Beale explains, researches have shown that tax cuts are not the best way to push economy and even if we raise taxes on wealthier population, they will still spend regardless of how much tax they pay. Most of our taxes is already going back to the higher brackets and what are we getting? This idea has no evidence to support the outcomes cited before.
The idea of tax cuts works out for economy when the benefits of the tax cuts are sent directly to investment and job creation which favors the lower class. The tax cuts benefit the wealthy population, those with high income. In American progressive income tax system (the more you earn, the more you pay), tax cuts are supposed to give more initiative for business to develop, grow and invest while giving the opportunity for lower class income to earn more, thus “spreading out” the wealth. But in reality it doesn’t work exactly like that. It’s questionable what part of the money saved from the tax cuts goes to the development of the economy and how many more job are created. The other thing if it’s worth the government income which can be added to the budget without tax cuts. But in situation of the economy in the phase of a weak and slow recovery, returning tax rates to the regular levels might lead to lowering down the income when wealthy businesses get the higher taxes on extra income which, in turn, lead to laying off employees and reducing the levels of investment. That will slow down the economy even more. But from the other hand, the government will gain significant raise of income from the tax payers who no longer have the tax cuts benefits. In order to choose between those two alternatives, it’s necessary to figure out which one brings more income and less damage for economy and business development. For the government, that’s the questions of economy as a whole, while for population, that’s the question of personal consumption and earnings. Cutting taxes lets the economy grow and prosper in the long run but it’s important how well and how much of this money is invested in the growth.
Anastasiya Soldatova
Ideology of the Trickled Down Economy
As little as I know about economy, this principle is based on the fact that if the wealthy class and the businesses, which play a vital role for our country's economy, receive a tax break they could invest that saved money in improving products and making them cheaper for the population. This ideology appears to me as completely invalid. For one, even if these businesses would truly decrease the price of their goods the consumption would still be low. Many people of the middle and low class nowadays simply do not have the possibility to buy, because their income is not sufficient. We are not living in the appropriate time to consume and waste money, after so many million people have lost their homes, are in immense debts, and are currently doing the best to maintain their family lives intact. We have been able to see a very similar effect of this principle in the past two years. In that time businesses gave outrageous bonuses to their CEO's which was proven to be one of the major causes of the bankruptcy of certain businesses, such as Washington Mutual and Wachovia. If their is one thing I understand in economy is that it is based on the simple but essential ideology of "supply and demand." These two terms have to be working in correspondence to each other, and only if they're both at its maximum then a economy can flourish. Right now our economy will not improve; after so many million people have lost their jobs, there is simply no demand for goods, but on the other hand the supply is still high.
"Trickle down economics" is a risk to take than can benefit the United States greatly. By providing tax breaks to the people with high income means that instead of paying more money to the government, they will spend their money on investments. Once the economy is being fed it will create more jobs availabilities for the middle and lower class. I believe that the economy grows from the top to the bottom. The more that the wealthy will buy the more jobs will become available. A demand for goods and services will be in demand which supply would be established.
Nicole Gelman
Trickle down economics? It seems to me that the rich will spend money, whether or not they are getting the extra $10,000 tax cut, simply because while to most of the world ten thousand dollars is a huge amount of money but for those people making more than $250,000 a year $10,000 is less than 2.5% of their income- pocket change if you will. The major error in trickle down economics is that while the rich are spending their money in fancy boutiques and on lavish vacations the people who are expected to benefit from their spending are not because the products they sell are not of the caliber that is expected. The demand for products in low income areas is high and the supply is low for the most part while upper middle class and upper class areas are plagued with the exact opposite problem, goods and products go to waste because the supply is much larger than the demand. Trickle down economics has no way to guarantee where the money goes and at which rate it flows leaving a very unstable economy where the domino effect takes down whole communities one by one.
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