Republicans, unbelievably, are once again forcing trickle-down economics on the United States, despite the idea being almost unanimously derided by reputable economists and financiers. It’s almost as if Republicans are unaware that the latest experiment in trickle-down has practically bankrupted the state of Kansas and has done little or nothing for North Carolina. They can’t leave this bogus ideology alone.
What does work economically is to put cash into the hands of the poor and not-so-poor, because they immediately go out and spend it, either on better health insurance, a real holiday, new clothes or something better than fast food. The bouncy resulting profits still eventually accrue to the donors Republican Congressmen adore so much in the form of dividends – it just takes a little more time to filter through. In the meantime poorer people have bigger incomes and, very importantly, feel better about the world, are not so resentful or prone to extremes, and even more tolerant of immigrants. But somehow the Republican politicians have an ideological aversion to the poor and middle class. They yatter on about the latter, but seem to secretly despise them as “losers”.
What is wanted now is not trickle down policies but the quickest and best way of fixing the country economically and helping the less fortunate at the same time: TRICKLE-UP economics.
Will we get it? Not until the issue of money in politics is corrected.