10/13/2007 08:56:19 AM EST

Reaganomics Finally Trickles Down To Area Man

posted by Leeberal

When the tax burden on the upper income brackets is lifted, the rich and not-rich alike all benefit

Eventually

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HAZELWOOD, MO—Twenty-six years after Ronald Reagan first set his controversial fiscal policies into motion, the deceased president's massive tax cuts for the ultrarich at last trickled all the way down to deliver their bounty, in the form of a $10 bonus, to Hazelwood, MO car-wash attendant Frank Kellener.

"Back when Reagan was in charge, I didn't think much of him," Kellener, 57, said, holding up two five-dollar bills nearly three decades in the making. "But who would have thought that in 2007 I'd have this extra $10 in my pocket? He may not have lived to see it, but I'm sure President Reagan is up in heaven smiling down on me right now"


http://www.theonion.com/con tent/news/reaganomics_final ly_trickles_down?utm_source =onion_rss_daily

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Reaganomics Finally Trickles Down To Area Man | 3 comments (3 topical, 0 hidden)
Oh I bet he is (none / 0)

That 10 bucks was the result of $3000 in tax giveaways to the rich. Now that's family values! Thats in touch with America! That's a new idea that works! Thats fully invested in victory! Thats optimistic! That keeps the shining light on the hill burning...in Republican pockets.

 

"Freedom is important to Republicans as long as someone else pays for it on the battlefield and on April 15th."

by MRFred on 10/13/2007 09:11:11 AM EST

My theory of trickle-down economics (none / 0)
I think of trickle-down economics like this: The government passes laws that favor the fat-cats to the extent that they are earning so much they shit pure money. We get to fight for whatever runs down their ankles.

by bfaul on 10/14/2007 06:05:04 PM EST

Trickle down (none / 0)

Trickle down is a derogatory name the dems gave Reagan's policies.

 His tax policy revolved around dead weight loss. If you tax ppl at 100%, they will not work and the gov. gets no money. If you tax ppl at 0 they will work but the gov gets no money.

 The Laffer curve was just finding the idealized point between 0 and 100 where the government got the most revenue on a single year (the point is different if you plot it out over say 20 years but that's a different story.)

And surprise, the government actually did receive more revenue when they reduced rates from 70% on the highest to something that gave them more incentive. 

 

 

by acroso on 10/14/2007 07:49:06 PM EST

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Reaganomics Finally Trickles Down To Area Man | 3 comments (3 topical, 0 hidden)
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