Forum Post: David Stockman: Ben Bernanke Is The Most Dangerous Man In US History
Posted 11 years ago on April 2, 2013, 6:48 p.m. EST by john32
(-272)
from Pittsburgh, PA
This content is user submitted and not an official statement
this BS from the "inventor" of supply side & trickle down
Could they both be full of shit? Could both preplanned, pre thought out plan, both "options", be total bullshit?
Could it be that "both" sides have been totally corrrupted and lying to us?
"this BS from the "inventor" of supply side & trickle down"
Not really accurate....Stockman suggested the very policy I see you championing all the time on this forum...raise taxes on the rich.
WIKI: Stockman became one of the most controversial OMB directors ever during a tenure that lasted until his resignation during August 1985. Committed to the doctrine of supply-side economics, he assisted the approval of the "Reagan Budget" , which Stockman hoped would be a serious curtailment of the "welfare state"
Stockman's influence within the Reagan Administration decreased after the Atlantic Monthly magazine published the famous 18,246 word article, "The Education of David Stockman", in its December 1981 issue, based on lengthy interviews Stockman gave to reporter William Greider. The White House's public relations team thereafter attempted to limit the article's damage to Reagan's perceived fiscal-leadership skills.
Stockman was quoted as referring to Reagan's tax act as: "I mean, Kemp-Roth [Reagan's 1981 tax cut] was always a Trojan horse to bring down the top rate.... It's kind of hard to sell 'trickle down.'
So the supply-side formula was the only way to get a tax policy that was really 'trickle down.' __Supply-side is 'trickle-down' theory."
Of the budget process during his first year on the job, Mr. Stockman is quoted as saying: "None of us really understands what's going on with all these numbers," which was used as the subtitle of the article.
Should take you right to 20 seconds......turn up your speakers cause it starts right away:
http://www.youtube.com/watch?v=_nPpvUMBOM4&t=0m20s