The Cruel Hoax of “Trickle Down” Economics
June 23rd 2020
Rich people make a mockery of protest demonstration in Berlin (Montecruz Foto)
By Scott Trimingham
There are few bigger hoaxes than “trickle down”, supply-side economics. It’s also called “Reaganomics”. Its essence is that if we give enough tax breaks to the “job creators”, in other words, the “job gods”, they will benevolently rain down some of this wealth upon us in the form of prosperity and the work that we may do for them. And they’ll keep the difference. As it has wryly been said, “Trickle down economics makes us a nation of peons.”
Of course, this is gas-lighting on a scale so large that many of us cannot grasp or consciously accept that it is wrong, or fathom the mind-boggling evil intent behind it. That is one of their super powers: to place such grand, and wrong, proposals before us that it stuns us with its audacity. Shock and awe. As reasonable people, our first genuine reaction is to doubt ourselves. Could this be true? Could they be right? How can they stand before me, without shame, and deliver such a lie?
Welcome to Republican gas-lighting. They could not exist without it.
Let’s reverse engineer trickle down theory. It likely originated from the position that those in power, because of their wealth and power, wanted even more of the wealth and power. Their mantra in the 80’s was, and is, “Greed is good”. So, they tasked their best and brightest (that money could buy) to come up with an explanation for this naked money grab.
They came up with the justification that the best use of our funds was to give it to them so they could provide us jobs to earn it back. Those with an authoritarian bent loved it.
Because obviously, the fruits of our labor can’t be given back to irresponsible us or else we’ll just waste it on things like housing, food, clothing, appliances and education for our children. No, that would only stimulate the economy even more and broadly benefit the public. Better that we filter the gains of society through billionaires so they can take it out of the system by parking it in the Caymans or Switzerland. Consequently, this squirrelling away of cash takes much money out of the system, and out of our country (where it would be taxed).
Trickle down is actually a modern version of 1890’s “horse and sparrow” economic theory. To wit, if you feed the horse enough oats, some will pass through to the road for the sparrows. To that I say, “Greetings fellow sparrows!”
The amazing thing is that this “theory” was put forth with a straight face back then just as trickle down “theory” is put forth with a straight face today. To that I say, “What a load of digested oats!”
You see, “trickle down” and “horse and sparrow” are simply thinly veiled slavery. We are the neo-slaves who are more productive, work harder and longer but earn less than before. Trickle down, supply side economics is the new slavery. From the heirs who gave us the old slavery.
If we are to learn one lesson from all of this it is that we must turn to “trickle up” economics to save us. And not just for us. We do this for our children and the generations that, hopefully, follow.
We have left them a planet that is on the brink of environmental collapse and humankind’s virtual extinction. The least we can do is to give them their economic freedom so they can fight for their survival.
Scott Trimingham, writes about the environment and politics
Send your ideas to prevent climate collapse to me at: evergreentea2000@yahoo.com
“We didn’t inherit this Earth from our parents, we’re borrowing it from our children.”