The rich get richer, and it never trickles down

Since Ronald Reagan was president in the 1980s, we’ve been told that if we give the rich lower and lower taxes, their riches will trickle down to the peasantry. Today, after three decades of failure, we’re still being sold the same line of bull. Despite all evidence to the contrary, we’re still told that fixing the economy isn’t about restoring consumer demand, but more giveaways to the aristocracy.
We’re still waiting for that trickle down, three decades later. Instead, new data from the Congressional Budget Office show that the rich are getting richer and richer, while the rest of us are staying completely stagnant. Where are all those jobs we were promised the rich would create?
It’s really quite simple — there are no jobs because middle-class wages have been stagnant for three decades, drying up consumer demand. And yet we keeping plugging away at trickle-down, supply-side economics, just waiting for new jobs to be created out of the bizarre economic theory that says the rich will create jobs out of the goodness of their hearts if we just give them enough money.
Maybe after one more giveaway, it will finally happen. One more tax cut, one more union busted, one more person denied health care in the name of insurance executives’ bonuses, and things will all work out. Just one more step toward an aristocracy, and I’m sure we’ll finally get all that trickle-down prosperity we’ve been waiting for.



