The Neocon Identity

Ummah Pulse:

"Trickle-Down Theory", which first surfaced in the 1930s, is an old con-trick idea which promises that if rich people were encouraged to make themselves as wealthy as possible through huge salaries, tax cuts, bonuses, stock options and perks, their wealth would trickle down to the rest of the population and thereby raise the standard of living for all. Although in theory it appeared appealing, in practice it has always led to a drastic increase in the gap between the rich and the dispossessed. The rich always get richer and the poor are always swamped by more destitution.

So what if the income gap got larger? Relative poverty ought to be meaningless. What matters is that one can live a comfortable, individual, debt-free life in most of the US for under $1,000-a-month.

Another point: There will always be poverty because some people just do not know how to save and spend money. One can give them a million dollars and a few years down the road they would be broke and wallowing in debt. Blaming Neocons (hunh?) for the poor in the US is asinine.

During the Reagan administration, the Neocon darlings could not tout Trickle-Down Theory for it was by then thoroughly discredited through bitter experience. So they came up with a new disguise for it. Trickle-Down Theory was re-branded as the Laffer Curve, named after its inventor Arthur Laffer, a colleague of Milton Friedman who had famously written a column, Hooray for Magaret Thatcher, in Newsweek magazine urging American politicians to follow her example.

What will those Jews Neocons think of next!

Throughout the 1980s there was continuous decline in the long-term capital investment upon which growth and jobs are dependent. In that same decade a recession began, the Federal Reserve was forced to raise interest rates to dampen inflation and unemployment rose, for the first time since the 1930s, above 10 per cent.

Correct. The unemployment rate in 1982-83 was the worst since the Great Depression. So, an interesting question presents itself: Why didn't Americans vote out Ronald Reagan in 1984 like they did Herbert Hoover in 1932?

Comments

[David Boxenhorn]

"The rich always get richer and the poor are always swamped by more destitution."

This explains why poor Americans are fleeing the US for the rest of the world.

[Isaac Schrödinger]

They're sailing for Cuba just as we speak!