We Need The Trickle To Stop

I’ve written before about the failed ideology of trickle-down economics. It amazes me that so many prominent Republicans can continue to support this lie despite a mountain of evidence to the contrary. If tax cuts create jobs then how do we explain the past 10 years of the Bush tax cuts? If increasing taxes kills jobs then how do we explain the 1990s? If higher tax rates mean that investors will flee then how do we explain the much higher tax rates in the many decades leading up to the 1980s? You probably heard that billionaire Warren Buffett famously said that his secretary pays a higher percentage in taxes then he does. Warren is again raising awareness to the failed ideology of trickle-down economics in a New York Times Op-Ed article. Below is an excerpt from that article.

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Nuance vs. Conviction

An op-ed in the L.A. Times, Obama’s Clarity Gap, sheds light on what I believe is a growing sentiment among Obama supporters: We still support him but what is he willing to fight for? In the debt debate the President appeared to be willing to fight for increased tax revenue as part of a balanced approach but ultimately the deal that was completed is entirely one-sided. Maybe it’s not fair to use this one example because Republicans in Congress appear to have left Obama with little choice since many felt default either wouldn’t happen, or wasn’t a big deal. But this is not the first time Obama has punted. He punted last December by extending the Bush tax cuts. So what is President Obama willing to fight for? I don’t dismiss the great achievements of his first term, health care reform, repeal of don’t ask don’t tell, Osama bin Laden, but I feel increasingly frustrated because I don’t know where President Obama is willing to make stand.

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Why Are Tax Increases Not An Option?

To hear some people talk it seems like there’s always a good reason why taxes can’t be increased at any given time. Bring up the subject, there is sure to be a rebuttal proclaiming tax increases would harm the economy, etc. It wasn’t always this way. But right now we have a very vocal minority in this country that has been really good at pandering to all of us. Nobody wants their taxes increased so it’s a very easy position to take as a politician. But this position also lacks vision and leadership. It’s utterly arbitrary to say tax increases can never happen or that tax cuts are always a good thing. It requires no proof of the claim because the politician who says such things knows it’s a winning position with the public. I say somebody needs to grow a backbone and show some leadership even if it means potentially jeopardizing re-election. Somebody has to stand up and be the adult in the room.

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