THE SAME OLD TRICKLE DOWN FAIRYTALE


Once more the republicans are trying to sell their trickle down fairytale.  What I find so sad is how many ‘stupid’ americans are ready to believe it. Back in the early 1900s they called it the horse and sparrow with the premise that if you feed the horse really good oats then the sparrows can come along and eat from the horses shat. Just another version of todays fairytale that if you give the rich and large corporations  tax breaks they will share their wealth with you and give everyone jobs.

Of course the reality is that it will just enlarge the inequality of wealth and the corporations will just give more to the shareholders and CEO’s and the middle class and poor will not only pay higher taxes but everything we ‘peon’s’ count on like Medicare and government programs for the poor and government agencies like EPA  and transportation and FDA and the list goes on will be severely cut and in some cases will be eliminated. The kicker is that it will raise the deficit by trillions and of course will cut way down on needed revenue so then even more cuts will of course need to be enacted.

When Reagan did his fairytale trickle down and found that of course there was not enough revenue- then taxes were raised on the middle class and that is when they started taxing  social security benefits.

It appears they have the votes needed to pass both the senate and house and of course trump will sign with glee-

Last time we had a businessman and a republican held congress in thrall to the wealthy we saw the stock market crash of 29 and the subsequent great depression. I could see that happening again….

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2 thoughts on “THE SAME OLD TRICKLE DOWN FAIRYTALE

  1. The New York Times published a March 9, 2017 article explaining how large profitable corporations avoid paying income taxes. The Times relied upon the Institute on Taxation and Economic Policy, a left-leaning research group in Washington, for their data. That data found that 100 large companies paid no taxes in at least one year between 2008 and 2015. The biggest tax subsidies went to AT&T, Wells Fargo, JPMorgan Chase, Verizon, IBM, General Electric, and Exxon Mobile.

    Those companies have large lobbyist groups that will try to retain all of the current loop holes in the tax laws. It is unrealistic to expect that any new tax law will close those loop holes.

    Incidentally my income tax went up after the Reagan tax cut. I had anticipated an income tax reduction.

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