Robert Reich (The New Tax Deal: Reaganomics Redux): “Yes, the pending tax bill will give Americaâ€™s middle and working classes slightly more cash next year. But only for one year. They wonâ€™t spend it. Theyâ€™ll use it to help pay down their debts. Will lower taxes on the rich spur them to create more jobs? Not a chance. Since 1980, Reaganâ€™s supply-siders have said lower taxes on the rich will trickle down to everyone else. Nothing could be further from the truth.”
I hope this bad idea actually works, but I have my doubts. I mean, the eight years under President Bush were so fruitful with this strategy. Yes, that’s a bit of sarcasm. It’s too bad the GOP lawmakers aren’t interested in helping America, they’re only interested in helping the top 1% fill their pockets. Sad really.