Sowell is proven liar. He lied about the source of the government shutdown and I don't give him a pass. It is quite fitting that this houseboy is named "Tom."
Trickle down economics is a fraud.
Tax cuts have never, ever, covered the cost of the tax cut itself. Never.
Mellon's tax cuts? The tax base was increased exponentially. Bush, Reagan and JFK all lost tax revenue. All of them.
To Republicans and right wing fanatics: There is no magic. Reduced tax rates do not pay out like a broken slot machine. Or in the words of Milton Friedman, "There is no free lunch."
Can you prove it to me? Prove to me he is lying about these four times. Give me anything besides your worthless feelings. I will take Sowell who is an expert in the field of economics vs your feelings.
Now, he went into the example the 20s.
It is an easy to search the record and see what happened.
Reagan is credited by many sources as having the best recovery ever (well at least in the modern era).
A blurb from some economic experts on Reagan from wiki
https://en.wikipedia.org/wiki/Reaganomics
Economist
Stephen Moore stated in the Cato analysis, "No act in the last quarter century had a more profound impact on the U.S. economy of the eighties and nineties than the Reagan tax cut of 1981." He argued that Reagan's tax cuts, combined with an emphasis on federal monetary policy, deregulation, and expansion of free trade created a sustained economic expansion, the greatest American sustained wave of prosperity ever. He also claims that the American economy grew by more than a third in size, producing a $15 trillion increase in American wealth. Consumer and investor confidence soared. Cutting federal income taxes, cutting the U.S. government spending budget, cutting useless programs, scaling down the government work force, maintaining low interest rates, and keeping a watchful inflation hedge on the monetary supply was Ronald Reagan's formula for a successful economic turnaround.
[43]
Milton Friedman stated, "Reaganomics had four simple principles: Lower marginal tax rates, less regulation, restrained government spending, noninflationary monetary policy. Though Reagan did not achieve all of his goals, he made good progress."
[62] Further,
The Heritage Foundation stated, "the U.S. government must allow the entrepreneur to enjoy the rewards of success. If taxes take away most profit, then the entrepreneur will have less incentive to take a risk. If there are great restrictions on how the entrepreneur can use his profit, then there is little reason for the entrepreneur to take a risk. The entrepreneur's courage to take a risk is what leads to new American discoveries and what drives the U.S. economy forward. Reaganomics knows this. It is one of the reasons why Ronald Reagan has reduced American taxes dramatically."
Here you go, the liberal rag NYT
http://www.nytimes.com/1990/01/17/opinion/the-reagan-boom-greatest-ever.html
The Reagan Boom - Greatest Ever
Trickle down cannot work as a driver. If you simply give a company money via tax breaks, this does not compel them to automatically hire more workers. And if they dont have a demand for more workers, what is to stop them, and why should they not, simply pocket the money?
The pretense that tax breaks will create jobs does not seem to cohere.
The trickledown is a myth. Go look at the OP and watch video with your head outside of your butthole
TS is talking out of his Socialist Ass.
Do you even know what I am talking about? You would have a very hard time showing that Milton is disagreeing with me or Sowell, as I have never disagreed with either on the economy and I have never seen them disagree with each other when both on a panel
So trickle down fails on its own terms-
Well, yes, because trickle down is not a real thing, sorry.
1) Don't ever bring up Jesus because you have no understanding of him.
2) there is no such thing as trickle down, it is used by ignorants like you with no evidence of who claimed it was such a thing. See video.
3) The free market is the VOLUNTARY buying and selling of goods and services, if you think economics is a zero sum game where you can only get rich by stealing from others then you are a dumb shit and know nothing about how economic systems work, no matter how much of a pompous jackass you sound like.
4) Taxes are NOT CHARITY---- charity is the VOLUNTARY giving to those less fortunate, and red states which are more christian give more charity than blue states
5) In the new and old testaments, tax collectors are seen as sinners, so not sure how you are going to say Jesus was in favor of high taxes or that he even cared. Oh, my proof?
17 Tell us therefore, What thinkest thou? Is it lawful to give tribute unto Caesar, or not?
18 But Jesus perceived their wickedness, and said, Why tempt ye me, ye hypocrites?
19 Shew me the tribute money. And they brought unto him a penny.
20 And he saith unto them, Whose is this image and superscription?
21 They say unto him, Caesar's. Then saith he unto them, Render therefore unto Caesar the things which are Caesar's; and unto God the things that are God's.
PS You see a trend of everyone disagreeing with me providing not proof of their claims? Only feelings. Now what would Ben Shapiro say about that????????
.