Posted 10 years ago on Nov. 11, 2011, 5:10 p.m. EST by puff6962
This content is user submitted and not an official statement
We do not hear much about Ronald Reagan's trickle-down economics concept, but it's alive and well. The thinking behind the concept is that if we throw enough money at the corporations and super-rich, then prosperity will trickle-down to everyone else. It may have worked short-term during the Reagan administration, but for the long haul it has been a disaster. It is a scheme that has managed to transfer the majority of this country's wealth to a few. The flat tax proposals are simple and enticing, but they are just more of the trickle-down scheme. The Republican Party continues to live and breathe trickle-down economics.
For instance, corporations have plenty of money to expand, but the trickle-down bunch thinks if we throw even more money their way that will create jobs. The reason why it does not work is because Wall Street and corporations do not care where profits come from. There is no loyalty to USA employees who have made them plenty of money. They elect to shift their jobs to China and elsewhere. China's unfair trade practices do not seem to matter to them.
In summary, the problems with a global economy are complex, but trickle-down economics, lack of corporate loyalty to USA employees, and unfair trade practices are contributing to our current job stagnation.