A number of years ago, Greg Palast wrote a very simple explanation of Milton Friedman's flawed 'Trickle Down" economic theory [subsequently included on one of his great books].
I don't know how much simpler you could make it, yet a poorly educated Tea Bagger still sputtered with excuses.
HERE:
Tinker Bell Pinochet and the Fairy Tale Miracle of Chile
Paul Krugman. (photo: David Levene/eyevine/Redux)
Dynamic Voodoo
12 September 15
e have a first score on the Jeb! tax plan — in answer to Matt O’Brien, I think we refer to this as the Bush! tax! cuts! It’s $3.4 trillion in lost revenue. But most of this will be made up through higher growth, Bush’s advisers, led by Glenn Hubbard, assure us.
And that’s highly credible, right? After all, Hubbard was a big booster of the Bush (as opposed to Bush!) tax cuts, which he assured everyone would lead to much faster growth and 300,000 jobs a month. He was especially proud of the 2003 tax cut.
And just look at the chart above, which compares private sector job creation after that pro-growth tax cut and after the job-killing 2013 Obama tax hike. As you can see — hmm, that doesn’t seem to go the right way, does it?
Data covering taxes and private sector jobs. (photo: The New York Times)
http://readersupportednews.org/opinion2/277-75/32355-dynamic-voodoo
FOCUS: Robert Reich | Jeb's Tax Plan: Welfare for the 1%
Robert Reich, Robert Reich's Facebook Page
Reich writes: "I've finally had a chance to review Jeb Bush's tax plan in detail. Frankly, I have never seen proposed such a huge transfer of income and wealth to the very top."
READ MORE
Robert Reich, Robert Reich's Facebook Page
Reich writes: "I've finally had a chance to review Jeb Bush's tax plan in detail. Frankly, I have never seen proposed such a huge transfer of income and wealth to the very top."
READ MORE
When do you abandon a Political Party that continues to screw you?
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