The mounting debt is a result of low tax rates and the longest war in history. Major corporations were thought to invest the money back into communities and create jobs. But as we can see corporations are moving overseas collecting their tax-breaks and paying it to themselves through dividends. if Apple made its products in the Unites States they would still make 50% profit. This along with a war thats costing us a trillion dollars a year. Also our aid to many countries now including Mexico because of a disastrous drug war. The trickle down economy is impossible to sustain, the economy and our infrastructure will fall apart if we dont start pumping money into our own country. It is really a shame if we can send billions of dollars abroad and contemplate shutting down the EPA and jeopardizing our future without the certainty of social security because of careless spending by congress.
This is a re-post from the previous topic. I posted it on the wrong class. There seems to be a lack of an ability to see the how connected things are, and to look beyond human desires to note the cost of them. It is understandable that one would overlook the pain (or consciousness) animals possess. By doing this they no longer are in conflict with their eating habits. Personally, l stopped eating most types of meat some 8 years ago or so (I still eat fish or chicken about once a month). At first it was a dietary choice, and I could feel how much better I felt physically by avoiding beef and pork. Later on it became an ethical issue. After learning of the conditions that animals have to endure in order to end up as dinner it would surprise me if none were outraged. As animals ourselves there is a kinship with all living creatures. By needlessly harming another in our ecosystem called Earth, we harm ourselves. I do not believe meat eating is wrong, but there are much more humane ways to fill our bellies than over crowded feedlots where cows are forced into cannibalism. How we as humans treat other living things is a reflection of our nature, and we are better than some of the pains we cause. Lastly, just because a Being does not display emotion us we do, does not mean the being is without emotion.Gerald Learnard
Trickle-down economics . This public relation propagandistic buzz word has been in and out of the media for at least as long as I have been alive, and economics simply does not work that way. It is a grand idea in theory, but that theory would only become fact if society were Utopian, it's people lacking rampant greed. In reality, massive tax breaks, deregulation of the financial market, and government subsidies do not contribute to the flow of capitol down to the masses. Instead the cash flows up to the corporate CEO, retiring with a golden parachute of enough money to set up his or her family 's blood line for the next ten generations. The Bush years are proof of this. His policies had the rich being taxed at record lows (unfortunately this continues despite all logic), and because of deregulation, corporate profit soared. If trickle-down economics worked, then this nation should have seen the rebirth of the middle-class. Yet what happened is the middle-class wage became frozen and high debt became the normal means of survival. During this time the super rich minority pocketed as much as they could from the non-rich majority. Many continued this even as their companies went belly up and U.S. capitalism became a system of privatized profit and socialized losses. That is trickle-up economics, the capitol of the less well off fueling the lifestyle of the rich. The upper 1% now hold a disarpropriate percentage of the country's wealth. Unemployment is over 9%. Entire states are facing bankruptcy. The fabric of the social safety net, in place for the good of the people, is in tatters. This is the result of certain people doing whatever they want to get as much money as they can, and no cost to the public is to high for the billions pilfered. In other words: the current economic status of this country is proof that trickle-down economics is a farce.
While the "trickle down" system of economics does produce some merit in the idea that jobs and will be the indirect cause of prosperity amongst the wealthy, but alas, it is a theory that would work only in a perfect world. Regulations and public awareness of funds and economics (in my opinion) is what sets the balance for such a system. the idea that the rich will not take advantage of their situation with those of lessser incomes comes to mind, along with the idea that it is unfair to give the rich tax cuts. Personally, it all comes down to personal preference.
What do I think about the trickle-down theory? I think in the end that's all it is a theory, we don't have enough evidence to conclude if it would actually work or not. Furthermore letting the Bush era tax cuts expire wouldn't help the economy in the long run. We wouldn't be in these situation if we hadn't spent what we couldn't pay back.
All I know is that for years and years the United States population has soared through the roof. This is not necessarily a good thing. Because of this more money has to be placed in circulation (thus decreasing the value of the U.S dollar and meaning nothing in comparison to other countries currency) to satisfy the amount of people spending, earning, and borrowing money. Now, with the population growth at an all time high, it’s obvious to conclude that we need more jobs, houses, food, etc etc. We are incapable as a nation to keep up with this progress in a successful and productive manner. In result, that’s why we have now cheap fast food that is able to satisfy anyone on a low budget. But as we all know that “food” is not very good for the body and consumption. The truth of the matter is that everyone wants to be rich and never have to think about money ever again. With so many people trying to figure out the next best thing or idea that will give them a huge pay day, society’s income distribution has shifted. Before there used to be a lower, middle, and upper class depending on your income. Now in days we only have lower and upper class. Both of the major depression eras that were caused in the United States was the result of the very action of people making more money than what was actually available. I strongly believe that the rich people should be taxed with a heavy hammer so that money can be used to create more opportunities to the lower class individuals. There should also be a population limit placed in the United States because it obviously can’t afford to let more people establish themselves here. Last but not least, the first mistake the United States government made was to borrow money from powers such as China and any other nations. The government should have done a better job at handling their money and expenses.
Tickling down the economy seems not to be working at all. More men and women are without a job. They say taxes will be raised to the rich and lowered to the poor. Which is very hypocritical of them because they are rich and they still more and more from those who have less. Around 75% of politicians say they want to make a change in the American community but they all do it for the same reason most of them do it! For more money! They never say I will donate xxxxx amount of money to this foundation or just lower taxes equally to everybody. Instead of saying they will raise the taxes to the rich just actually take taxes from them. Rich people , the more they have the more they want to have and they will do anything just to pay a smaller amount of money of what they own to the government . if they make xxxx amount of money per year its just like a middle calss person’s pay check just different amount, just take what you need to take correspondingly of what they earn. Once this is done America will progress faster and have a better future for those who are willing to rich It.” get it? “Rich it”?
The main purpose of the "trickle down theory" was to help companies in ways that would be beneficial to the people and the economy. So far, not so good. There are still a large amount of Americans who are still unemployed and are struggling to make ends meet. I believe the government should drop this unreliable theory and come up with a more effective and guaranteed one that would be helpful towards everyone instead of helping one end and hoping for everything and everyone else to fall into place.
This topic could take years and many discussions between people, on the right, the left and the middle to try and figure out. It has been an ongoing argument since Our Country was founded and the question has always been, "What is the best way for Our Country to run?". In my humble opinion, let's take corporations, the reason corporations don't make their plants in America today, one is Unions, no one can argue the fact of how business owners treated the workers a while back ago, and one of the best things was to unionize, but, and the key word is balance, once the balance shifts more toward one side, it becomes a problem for both sides, today, unions have by far caused a problem for businesses to establish a company here due to unions who will make the businesses lives impossible with the costs of per hour monies, insurance benefits and retirement benegits as well, sometimes unions demanding matching or multiplying what the worker invests in their retirement, which can be unsustaineable to a new business. Take a look at Wiscsonsin, with what the unions say would devastate the State, Wisconsin is now in a great posisition and will even be paying back monies they owed for a very long time, the State is going into the Black in a long time. Fair to say there are many other subjects that need to be examined by all sides and coming up with a balance, for one side is always looking to get ahead and thus causing the same imbalance that exists today. For instance, the oil moratorium, why is it Obama has instilled a moratorium, when what proven was a failiure to administer the safety and regulations of oil platforms, he killed entire generations of oil drillers in the Gulf States, 20,000 alone in Louisiana, then turns around gives 3 Billion to George Soros' Company, Petrobras for what he calls research and the right to drill for Oil in Amercan Territory! While people will say trickle-down economics do not work, it certainly boosted Our Country's GDP, for busineses will invest in themselves, creating their wealth and employment, which is key. Small Business employs over 65% of employment, which means it is the backbone of America, but if they are not given what the consider opportunity to prosper, they will not employ more people and will exceed far more with the employees they have.
In my opinion, “Trickle down economics” or whatever solution proposed to solve the mounting deficit and the problems America is facing, will follow trough only if there is unity, and many other behavioral changes. I had the privilege of being present when Dr. Herman Munoz, Head of the Sociology and Psychology Departments of Wolfson Campus, got together all the students after the election and spoke during a panel about what had happened: “ It is not about Republicans or Democrats, it is about love. Love for this country and not for personal interest, which is selling this country to the Chinese. We do not think about our children and the horrible future we are designing for them…” Dr. Munoz, also spoke about moral values and said that the students were his hope. In your Ethics course Professor Triff, I realized also that self interest often wins over good intentions, in this hard reality, and that it will take ethical decisions taken by a majority to solve this selfish truth. In films like “Flow” or “Inside Job”, one realizes that in the economy, we have completely forgotten ethics; so why should we believe that our present way of doing things should suddenly change? My daughter was telling me this morning: if everyone in their awareness invested in bonds that were beneficial to the future of our planet or the population in general instead of cigarettes or Companies that produced products harmful to the planet; it would already make such a difference… Yes it would be counterintuitive because these bonds are less profitable but in the long run that is the only way we will save our economy, our humanity and our planet., I believe this discussion is part of the general awareness. This post along with all the previous ones this semester made me comprehend that more than ever it is time to act. I will do my tiny part and contribute.
In their attempt to find solutions to economic issues, societies will come with different economic theories, among which trickle down economic. The latter seems to be viewed as not that efficient as its proponents claim it to be. For the good march of the economy through cut taxes in favor of the wealthy is not a real incentive to help the less fortunate to get by. Tax break, in effect, appears to the supplier as a means to provide more goods to the public and therefore less lay off and more work to fulfill consumers’ needs. However, this is not a true solution to greed since the wealthy want to get richer and the poor unfortunately becomes poorer. Due to the fact that it has created jobs, trickle down economic is to be given the benefit of the doubt. In spite of that, it has increased the inequality whereas, because of inflation, some people will keep losing values and others won’t gain anything at all. In fact, broader monetary policy may be one of the ways to favor a change in people’s lives since wealth is relative to which respect one directs the question.
The trickle-down effect theory of economics, in my opinion, is one that "sounds" good, and that can have its benefits. It is fair to say though, that many of the wealthy do enjoy a very "lenient" tax rate in the United States--and for quite some time now. These issues are quite difficult because they incorporate the concept of "the economy," which has been historically notorious for being difficult to effectively predict and sustainably maintain. One can easily be lost or confused by all of the politics behind this dilemma and the ideas that back them, their implications, and the plausible consequences that they may hold for the future. Some businesses are small and local; some are enormous and far-reaching. Businesses are supposed to make money selling a product/service, expanding, and creating more jobs and opportunities that will go back into the economy and start the process all over again. Some of those businesses would probably bet against taxes going up for them. Then, of course, there are those companies that just want a piece of the pie that they don't necessarily need to have or need; not to say that this occurrence could not do the economy any good. How much government should we have in our markets and lives? When is it justified? To give tax breaks, or to give tax hikes is the question. Where a large problem, I feel, lies in the trickle-down theory is that their is a fundamental culture of greed in our system and nation. Too often are people chasing a quick-rich dream; and this is the real problem that has plagued us for so long. This theory could have been true were there more honest people in this world who actually looked for ways to be frugal, not ruthless. Companies that are large want to grow and strengthen more that, in the process, they can come to consume and devastate even the best of small and medium businesses. Do those companies really need tax breaks? I think many rich should be taxed just a tiny bit more, while yet believe that some are on the brink of collapse along with their businesses that employ workers. Maybe I'm wrong though, and tax breaks are better than they seem.
Trickle down economics... Well I think its not going to work for long. We've only seen a little good of it but at the end of the day we still have the same problem and its going to keep growing. America hasn't stopped lending money... It's like we're getting welfare from the world.
I’m a Little out of subject here because I wasn’t here when Bush cut the taxes and all of those things happened, I just arrived to this country last year so I’m not in the best position to give an opinion. But if someone asks me about economics I could say that this is not the only place suffering from the recession and I strongly believe that here some people live in a cloudy world where they think they have everything but the reality is other one, they are just filled with debts and bills to pay. I read an article in a blog called “The Collapse” were they specifically mention that it is now mathematically impossible to pay off the U.S. national debt. Take a look at the article, I think this article will speak with more arguments and knowledge than myself.
If we lived in a fantasy world, then trickle down economics would work, but unfortunately that is not the case. When the experts say that giving the rich a tax break is not a good idea, I tend to agree. It does not make logical sense to reduce their taxes, when they only make a minority of the population. If they are already financially stable, why would they need anything reduced? What needs to be done is to figure out a system that helps elevate the economic status of people in poverty. If they are given an opportunity to progress, we will have a higher probability of finding a more permanent solution to our economic problems because we will have more brains at work. This will also increase our working class; isn’t America the land of opportunity? If this were true then everyone should have the right to work. Instead of having to worry about how they are going to pay for their expenses, they will be able to focus on bettering their country’s economy.
16 comments:
The mounting debt is a result of low tax rates and the longest war in history. Major corporations were thought to invest the money back into communities and create jobs. But as we can see corporations are moving overseas collecting their tax-breaks and paying it to themselves through dividends. if Apple made its products in the Unites States they would still make 50% profit. This along with a war thats costing us a trillion dollars a year. Also our aid to many countries now including Mexico because of a disastrous drug war. The trickle down economy is impossible to sustain, the economy and our infrastructure will fall apart if we dont start pumping money into our own country. It is really a shame if we can send billions of dollars abroad and contemplate shutting down the EPA and jeopardizing our future without the certainty of social security because of careless spending by congress.
This is a re-post from the previous topic. I posted it on the wrong class.
There seems to be a lack of an ability to see the how connected things are, and to look beyond human desires to note the cost of them. It is understandable that one would overlook the pain (or consciousness) animals possess. By doing this they no longer are in conflict with their eating habits. Personally, l stopped eating most types of meat some 8 years ago or so (I still eat fish or chicken about once a month). At first it was a dietary choice, and I could feel how much better I felt physically by avoiding beef and pork. Later on it became an ethical issue. After learning of the conditions that animals have to endure in order to end up as dinner it would surprise me if none were outraged. As animals ourselves there is a kinship with all living creatures. By needlessly harming another in our ecosystem called Earth, we harm ourselves. I do not believe meat eating is wrong, but there are much more humane ways to fill our bellies than over crowded feedlots where cows are forced into cannibalism. How we as humans treat other living things is a reflection of our nature, and we are better than some of the pains we cause. Lastly, just because a Being does not display emotion us we do, does not mean the being is without emotion.Gerald Learnard
July 3, 2011 8:37 PM
Trickle-down economics . This public relation propagandistic buzz word has been in and out of the media for at least as long as I have been alive, and economics simply does not work that way. It is a grand idea in theory, but that theory would only become fact if society were Utopian, it's people lacking rampant greed. In reality, massive tax breaks, deregulation of the financial market, and government subsidies do not contribute to the flow of capitol down to the masses. Instead the cash flows up to the corporate CEO, retiring with a golden parachute of enough money to set up his or her family 's blood line for the next ten generations. The Bush years are proof of this. His policies had the rich being taxed at record lows (unfortunately this continues despite all logic), and because of deregulation, corporate profit soared. If trickle-down economics worked, then this nation should have seen the rebirth of the middle-class. Yet what happened is the middle-class wage became frozen and high debt became the normal means of survival. During this time the super rich minority pocketed as much as they could from the non-rich majority. Many continued this even as their companies went belly up and U.S. capitalism became a system of privatized profit and socialized losses. That is trickle-up economics, the capitol of the less well off fueling the lifestyle of the rich. The upper 1% now hold a disarpropriate percentage of the country's wealth. Unemployment is over 9%. Entire states are facing bankruptcy. The fabric of the social safety net, in place for the good of the people, is in tatters. This is the result of certain people doing whatever they want to get as much money as they can, and no cost to the public is to high for the billions pilfered.
In other words: the current economic status of this country is proof that trickle-down economics is a farce.
While the "trickle down" system of economics does produce some merit in the idea that jobs and will be the indirect cause of prosperity amongst the wealthy, but alas, it is a theory that would work only in a perfect world. Regulations and public awareness of funds and economics (in my opinion) is what sets the balance for such a system. the idea that the rich will not take advantage of their situation with those of lessser incomes comes to mind, along with the idea that it is unfair to give the rich tax cuts. Personally, it all comes down to personal preference.
What do I think about the trickle-down theory? I think in the end that's all it is a theory, we don't have enough evidence to conclude if it would actually work or not. Furthermore letting the Bush era tax cuts expire wouldn't help the economy in the long run. We wouldn't be in these situation if we hadn't spent what we couldn't pay back.
All I know is that for years and years the United States population has soared through the roof. This is not necessarily a good thing. Because of this more money has to be placed in circulation (thus decreasing the value of the U.S dollar and meaning nothing in comparison to other countries currency) to satisfy the amount of people spending, earning, and borrowing money. Now, with the population growth at an all time high, it’s obvious to conclude that we need more jobs, houses, food, etc etc. We are incapable as a nation to keep up with this progress in a successful and productive manner. In result, that’s why we have now cheap fast food that is able to satisfy anyone on a low budget. But as we all know that “food” is not very good for the body and consumption. The truth of the matter is that everyone wants to be rich and never have to think about money ever again. With so many people trying to figure out the next best thing or idea that will give them a huge pay day, society’s income distribution has shifted. Before there used to be a lower, middle, and upper class depending on your income. Now in days we only have lower and upper class. Both of the major depression eras that were caused in the United States was the result of the very action of people making more money than what was actually available. I strongly believe that the rich people should be taxed with a heavy hammer so that money can be used to create more opportunities to the lower class individuals. There should also be a population limit placed in the United States because it obviously can’t afford to let more people establish themselves here. Last but not least, the first mistake the United States government made was to borrow money from powers such as China and any other nations. The government should have done a better job at handling their money and expenses.
-Leandro Lescailles
Tickling down the economy seems not to be working at all. More men and women are without a job. They say taxes will be raised to the rich and lowered to the poor. Which is very hypocritical of them because they are rich and they still more and more from those who have less. Around 75% of politicians say they want to make a change in the American community but they all do it for the same reason most of them do it! For more money! They never say I will donate xxxxx amount of money to this foundation or just lower taxes equally to everybody. Instead of saying they will raise the taxes to the rich just actually take taxes from them. Rich people , the more they have the more they want to have and they will do anything just to pay a smaller amount of money of what they own to the government . if they make xxxx amount of money per year its just like a middle calss person’s pay check just different amount, just take what you need to take correspondingly of what they earn. Once this is done America will progress faster and have a better future for those who are willing to rich It.” get it? “Rich it”?
The main purpose of the "trickle down theory" was to help companies in ways that would be beneficial to the people and the economy. So far, not so good. There are still a large amount of Americans who are still unemployed and are struggling to make ends meet. I believe the government should drop this unreliable theory and come up with a more effective and guaranteed one that would be helpful towards everyone instead of helping one end and hoping for everything and everyone else to fall into place.
This topic could take years and many discussions between people, on the right, the left and the middle to try and figure out. It has been an ongoing argument since Our Country was founded and the question has always been, "What is the best way for Our Country to run?". In my humble opinion, let's take corporations, the reason corporations don't make their plants in America today, one is Unions, no one can argue the fact of how business owners treated the workers a while back ago, and one of the best things was to unionize, but, and the key word is balance, once the balance shifts more toward one side, it becomes a problem for both sides, today, unions have by far caused a problem for businesses to establish a company here due to unions who will make the businesses lives impossible with the costs of per hour monies, insurance benefits and retirement benegits as well, sometimes unions demanding matching or multiplying what the worker invests in their retirement, which can be unsustaineable to a new business. Take a look at Wiscsonsin, with what the unions say would devastate the State, Wisconsin is now in a great posisition and will even be paying back monies they owed for a very long time, the State is going into the Black in a long time. Fair to say there are many other subjects that need to be examined by all sides and coming up with a balance, for one side is always looking to get ahead and thus causing the same imbalance that exists today. For instance, the oil moratorium, why is it Obama has instilled a moratorium, when what proven was a failiure to administer the safety and regulations of oil platforms, he killed entire generations of oil drillers in the Gulf States, 20,000 alone in Louisiana, then turns around gives 3 Billion to George Soros' Company, Petrobras for what he calls research and the right to drill for Oil in Amercan Territory! While people will say trickle-down economics do not work, it certainly boosted Our Country's GDP, for busineses will invest in themselves, creating their wealth and employment, which is key. Small Business employs over 65% of employment, which means it is the backbone of America, but if they are not given what the consider opportunity to prosper, they will not employ more people and will exceed far more with the employees they have.
In my opinion, “Trickle down economics” or whatever solution proposed to solve the mounting deficit and the problems America is facing, will follow trough only if there is unity, and many other behavioral changes. I had the privilege of being present when Dr. Herman Munoz, Head of the Sociology and Psychology Departments of Wolfson Campus, got together all the students after the election and spoke during a panel about what had happened: “ It is not about Republicans or Democrats, it is about love. Love for this country and not for personal interest, which is selling this country to the Chinese. We do not think about our children and the horrible future we are designing for them…”
Dr. Munoz, also spoke about moral values and said that the students were his hope. In your Ethics course Professor Triff, I realized also that self interest often wins over good intentions, in this hard reality, and that it will take ethical decisions taken by a majority to solve this selfish truth. In films like “Flow” or “Inside Job”, one realizes that in the economy, we have completely forgotten ethics; so why should we believe that our present way of doing things should suddenly change? My daughter was telling me this morning: if everyone in their awareness invested in bonds that were beneficial to the future of our planet or the population in general instead of cigarettes or Companies that produced products harmful to the planet; it would already make such a difference… Yes it would be counterintuitive because these bonds are less profitable but in the long run that is the only way we will save our economy, our humanity and our planet., I believe this discussion is part of the general awareness. This post along with all the previous ones this semester made me comprehend that more than ever it is time to act. I will do my tiny part and contribute.
In their attempt to find solutions to economic issues, societies will come with different economic theories, among which trickle down economic. The latter seems to be viewed as not that efficient as its proponents claim it to be. For the good march of the economy through cut taxes in favor of the wealthy is not a real incentive to help the less fortunate to get by. Tax break, in effect, appears to the supplier as a means to provide more goods to the public and therefore less lay off and more work to fulfill consumers’ needs. However, this is not a true solution to greed since the wealthy want to get richer and the poor unfortunately becomes poorer. Due to the fact that it has created jobs, trickle down economic is to be given the benefit of the doubt. In spite of that, it has increased the inequality whereas, because of inflation, some people will keep losing values and others won’t gain anything at all. In fact, broader monetary policy may be one of the ways to favor a change in people’s lives since wealth is relative to which respect one directs the question.
Yvonne Duthil
The trickle-down effect theory of economics, in my opinion, is one that "sounds" good, and that can have its benefits. It is fair to say though, that many of the wealthy do enjoy a very "lenient" tax rate in the United States--and for quite some time now. These issues are quite difficult because they incorporate the concept of "the economy," which has been historically notorious for being difficult to effectively predict and sustainably maintain. One can easily be lost or confused by all of the politics behind this dilemma and the ideas that back them, their implications, and the plausible consequences that they may hold for the future. Some businesses are small and local; some are enormous and far-reaching. Businesses are supposed to make money selling a product/service, expanding, and creating more jobs and opportunities that will go back into the economy and start the process all over again. Some of those businesses would probably bet against taxes going up for them. Then, of course, there are those companies that just want a piece of the pie that they don't necessarily need to have or need; not to say that this occurrence could not do the economy any good. How much government should we have in our markets and lives? When is it justified? To give tax breaks, or to give tax hikes is the question. Where a large problem, I feel, lies in the trickle-down theory is that their is a fundamental culture of greed in our system and nation. Too often are people chasing a quick-rich dream; and this is the real problem that has plagued us for so long. This theory could have been true were there more honest people in this world who actually looked for ways to be frugal, not ruthless. Companies that are large want to grow and strengthen more that, in the process, they can come to consume and devastate even the best of small and medium businesses. Do those companies really need tax breaks? I think many rich should be taxed just a tiny bit more, while yet believe that some are on the brink of collapse along with their businesses that employ workers. Maybe I'm wrong though, and tax breaks are better than they seem.
--Franklin Hernandez
Trickle down economics... Well I think its not going to work for long. We've only seen a little good of it but at the end of the day we still have the same problem and its going to keep growing. America hasn't stopped lending money... It's like we're getting welfare from the world.
Rosaly Castillo
I’m a Little out of subject here because I wasn’t here when Bush cut the taxes and all of those things happened, I just arrived to this country last year so I’m not in the best position to give an opinion. But if someone asks me about economics I could say that this is not the only place suffering from the recession and I strongly believe that here some people live in a cloudy world where they think they have everything but the reality is other one, they are just filled with debts and bills to pay. I read an article in a blog called “The Collapse” were they specifically mention that it is now mathematically impossible to pay off the U.S. national debt. Take a look at the article, I think this article will speak with more arguments and knowledge than myself.
http://theeconomiccollapseblog.com/archives/it-is-now-mathematically-impossible-to-pay-off-the-u-s-national-debt
If we lived in a fantasy world, then trickle down economics would work, but unfortunately that is not the case. When the experts say that giving the rich a tax break is not a good idea, I tend to agree. It does not make logical sense to reduce their taxes, when they only make a minority of the population. If they are already financially stable, why would they need anything reduced? What needs to be done is to figure out a system that helps elevate the economic status of people in poverty. If they are given an opportunity to progress, we will have a higher probability of finding a more permanent solution to our economic problems because we will have more brains at work. This will also increase our working class; isn’t America the land of opportunity? If this were true then everyone should have the right to work. Instead of having to worry about how they are going to pay for their expenses, they will be able to focus on bettering their country’s economy.
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