tricke down economics

Nice quotes:

 "Of course trickle down economics doesn't work. In an age of mass production you need a mass domestic market. If you put the squeeze on the people who provide that mass market. you leave yourself vulnerable to cheaper imports and destroy your own industry. In doing that you progressively increase dependency on welfare and increase the tax burden of paying for it on the mass market you have already put the boot into and expect to consume the home produced goods you have made unaffordable to them. It's economic suicide and always has been. A triple whammy on your own economy. How can massively increasing the purchasing power of 1% and reducing the purchasing power of 99% possibly stimulate a mass production economy? It can't. It can only lead to a progressively shrinking share of your own domestic market and the exodus of manufacturing to countries with cheaper labour, worsening the trade deficit and increasing debt as social welfare balloons. Oh well, never let the facts and the prosperity of the country get in the way of making the rich richer. Let's just put it all down to a word, "globalization." Then government doesn't carry the can for economic  incompetence and putting the interests of the rich before the interests of the nation."-2001 perseus

" The biggest lie every sold to the public originates with the right wing intentionally confusing the effective tax rate with the top tax bracket.  Let's say income over 1 million is taxed at 70% and the tax rate is 35% for income below that. If you make $1,000,001 you only pay the 70% tax rate on that last dollar. The right wing has INTENTIONALLY convinced the public that because you made that extra dollar you now have to pay $750,000.70 in taxes, even though you actually only pay $350,000.70. They KNOW this. They're not stupid. The people that swallow the lie are stupid though. They KNOW that people will still try to make that last dollar, because they GAIN 30 cents rather than LOSING $400,000.70." -Reaves MO

"The misrepresentation of "job creators" is the most destructive myth of our economy. Consumers who spend and create demand are the job creators, not billionaire multinational CEOs who own companies that hire people at the lowest possible wages to produce supply. If no one can buy your products, then demand goes down and people are laid off in droves, like during the financial crisis. This seems like the most basic tenet of a consumer economy, and yet all of Washington is somehow oblivious. How are they "job creators" if they are responsible for a net loss of U.S. jobs? It doesn't even make mathematical sense. It's consumer demand that creates jobs. We have fetishized "entrepreneurs" as if that's where our supply comes from; it's not, no one gets loaned money to start a small business anymore because there's already too many Wal-Marts everywhere. The Waltons didn't create those jobs, demand for cheap products created those jobs, and all the better-paying local businesses that shut down when Wal-Mart came to town supplied the employees (who are now subsidized by the government so they can afford food). Wal-Mart is not an American success story, it's the purest example of the fundamental failures of the U.S. economy over the last 30 years."mediumvillain