Monday, August 8, 2016
IT IS THE SAME OLD TRICKLE DOWN ECONOMICS
I have said before that I don’t get too invested in Presidential elections, because I don’t elect the President; that is done by an Electoral College – the actual vote tally of one man one vote doesn’t apply.
I marvel at the uninformed, middle income voters of this country that line up behind a Republican ticket strictly on social issues, when Republican economic policies are devastating and even insulting to middle and lower income people.
Donald Trump’s economic speech, which he read off teleprompters, was ridiculous to any thinking person. He proposes to drastically cut taxes, sustain social programs, with the exception of The Affordable Health Care Program which he would end, and at the same time cut the deficit.
Trump proposes to cut corporate taxes for big business in half, reduce the tax on the upper incomes by establishing a much lower flat tax, cutting out the inheritance tax that only effect people inheriting over five million dollars; while at the same time continuing social programs and increasing military spending.
This is typical Republican boiler plate trickledown economics on steroids, with the exception of supporting social programs which Republicans always want to slash.
Donald Trump obviously has no idea what he is talking about, but is willing to read a prepared speech in an attempt to turn around his pole numbers.
Every family knows you can’t decrease your income while increasing your spending without running up credit.
Of course, the boiler plate Republican answer is that we will grow the economy as the rich get richer which will take care of the deficit and trickle down to the rest of us.
What do you call it when you try the same failing thing over and over while expecting a different result?
Here is a picture of our spending. Common sense would tell us that in order to decrease our national debt we must either raise our income or cut our spending.
Republican economic policy has always been the we can cut our income by issuing big tax cuts, increase military spending, and balance it all out by cutting social programs (notice the orange slice.) It makes you wonder what alternative reality they live in.