'Trickle down' has never lived up to its promise
Two thoughtful columns in the Daily Herald on May 7, one by Lee Hamilton and the other by Ralph Martire made me think. Hamilton mentioned that Lincoln talked of, "A government ... of the people, by the people and for the people." Note Lincoln didn't say of the rich people, by the rich people and for the rich people; yet, this is what our government has been up to since, as Mr. Martire points out, Trickle Down economics has ruled Congress's fiscal decision-making. Tax cuts to corporations and rich individuals are the tools of this misguided theory.
The thinking being that money will trickle down to the less wealthy as business expands and jobs grow, thus common people will benefit. However, the touted tax cuts given to corporations and wealthy individuals have not trickled down to provide more jobs and great financial advancement for 90% of us, as promised.
In fact, this theory masquerading as one that would benefit all of us has in fact raped the greater number of Americans by hindering many government services that were designed to develop and spur domestic tranquility and the pursuit of happiness.
Since this thinking has been in place since 1981, it has continually failed to live up to its promise. As demonstrated clearly by Trump's tax cuts, which clearly benefited the rich and did little to help the common person. It is, therefore, in interest of the common good to do as Mr. Martire and Mr. Hamilton suggest and support president Biden's quest to scrap Trickle-Down economics and focus on providing support to programs that will lead to refocusing on an agenda that will improve life for all Americans.
Thank you, Mr. Martire and Mr. Hamilton for your insights. Hopefully, open minded, unbiased and honest leaders will take action.