Quote:
Originally posted by Phast SVX
the trickle down effect worked, and you my son are a product of it. I will miss him always
phil
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wow....you were born during his era of reign. Obviously you don't remember the early 80's with exceedingly high interest rates and massive unemployment.
The trickle down theory is just that...a theory. Massive tax cuts, loopholes and other 'reagonmics' do not stimulate the economy as much as the current republican party wants you to believe.
His supply side economics did not translate into significant tax cuts for the middle class and poor. And those that were rich were made richer as it is today w/ Shrub. The wealthy do not consume as the other classes do; and this is where the trickle down theory falls apart.
We will never be able to pay off our national debt; there will come a time when we won't be able to make our interest payments on that debt. What will happen then? More tax cuts? More Reagonmics?
It might appear that I am a bleeding heart liberal. I am not. I do not believe raising taxes will help the US out of our crushing debt either. As for a solution...that is another topic at another time.
I might not know jack about svx's and cars in general, but I have degree in economics and the study of economics is a lifelong passion.