General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWARREN: "Trickle Down NOTHING MORE Than Politics Helping Rich & Powerful Get Richer & More Powerful"
SENATOR ELIZABETH WARREN
SPEECH AT THE AFL-CIO NATIONAL SUMMIT ON RAISING WAGES
REMARKS AS PREPARED FOR DELIVERY
GALLAUDET UNIVERSITY
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Trickle-down was popular with big corporations and their lobbyists, but it never really made much sense. George Bush Sr. called it voodoo economics. He was right, and lets call it out for what it is: Trickle-down was nothing more than the politics of helping the rich-and-powerful get richer and more powerful, and it cut the legs out from under Americas middle class.
Trickle-down policies are pretty simple. First, fire the copsnot the cops on Main Street, but the cops on Wall Street. Pretty much the whole Republican Party and, if were going to be honest, too many Democrats talked about the evils of big government and called for deregulation. It sounded good, but it was really about tying the hands of regulators and turning loose big banks and giant international corporations to do whatever they wanted to doturning them loose to rig the markets and reduce competition, to outsource more jobs, to load up on more risks and hide behind taxpayer guarantees, to sell more mortgages and credit cards that cheated people. In short, to do whatever juiced short term profits even if it came at the expense of working families.
Trickle down was also about cutting taxes for those at the top. Cut them when times are good, cut them when times are bad. And when that meant there was less money for road repairs, less money for medical research, and less money for schools and that our government would need to squeeze kids on student loans, then so be it. And look at the results: The top 10% got ALL the growth in income over the past 30 yearsALL of itand the economy stopped working for everyone else.
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see page 3 of this political masterpiece (& read the rest, of course):
http://www.warren.senate.gov/files/documents/2015-1-7_AFL-CIO_Raising_Wages_Summit.pdf
sabrina 1
(62,325 posts)Reaganomics, and Democrats need to get behind her on this.
Jackpine Radical
(45,274 posts)Jackpine Radical
(45,274 posts)If our candidates would just lay out reality like that in their campaigns, and then govern like they meant what they said, we might just be able to restore rational rule in America.
reddread
(6,896 posts)you might think it was undeniable, but...