Trickle down economics does not work
Money in the hands of people stimulates the economy, whether they are rich or poor. The problem- how to you put money in the hands of the poor? Transfer of more wealth from the rich to the poor each year? This would only create greater dependency on entitlements and give lessen the incentive to achieve. Give the poor greater tax cuts? You can only cut the taxes for the poor by so much, because they don't pay much in taxes. When Tom Daschle said that the result of a proposed Bush tax cut would mean that a rich person would be able to buy a new car, without realizing it, he proved the theory of Trickle Down Economics. The person selling that car would generate income that he would otherwise not have had. Please note that if that person sells enough cars, he will gain wealth. If tax rates in this county were at 75% what would happen to the economy? The answer is that no one would have money to spend on anything except housing and food. The result would be that businesses everywhere would fail, because no one would have money to buy clothes, electronics, entertainment, repairs for their homes or cars, go on vacation..... If they did buy such things, they would have to go in to debt to do so. How would this help the working class or the poor? Please note the average taxpayer, pays roughly 50% of their income in taxes. After the attack on September 11th, Hillary Clinton said, "come to New York and spend money." She knew if people stopped coming to New York and spending money, businesses would fail and the economy in New York would suffer a great downturn, which would hurt the average working family. This is interesting considering that liberals are for tax hikes and against tax cuts. The only thing that helps the working class is a strong economy. It gives the average worker more freedom and more bargaining power. When the financial sector was booming from 1987 through 1989, workers were getting bonuses, overtime and stock options. When the financial sector suffered a downturn in 1990, it trickled down. There were no more bonuses, overtime, stock options and their were layoffs.