Op-Ed by: Christopher Klein
In 1996, the United States was swept by the fad of “Tickle Me Elmo.”
In the early 1980’s, we were given Reaganomics and the introduction of “Trickle Down Economics,” historically a failure which sparked a deep recession in 1981 and 1982.
But what could these two things have in common? I give you the 2017 “Trickle me Trump!”
The theory behind trickle down economics is simplistic. You give a large amount of money to the elite of society, that is the business owners and investors, and they spend it on their companies and investments, which then enhances their companies. Then they provide pay raises, better insurance and other such financial upgrades to the workforce. But this idea has an inherent flaw. The elite of the United States of America already have money. This “found money” is added to their already bloated portfolios where it becomes part of the foundation of their finances.
A better choice in this is to take advantage of the psychology of human nature. If we want to help the economy in general, then this money should be allocated so that it reaches the economy. When those who live in the middle class, or even poverty, are faced with the same “found money,” they go to WalMart, K-Mart, the local mall or have a bite out to eat. This infuses the economy in that the money is gained and quickly put back into the economy of the nation instead of purchasing a few more shares of Big Oil, a global pharmaceutical or Microsoft.
With the current administration cutting funding left and right, we are facing another trickle down theory in practice, as well as the same 1980’s aftermath of a potential recession. Instead of funneling this money to the society elite, this money should be allocated to directly affect the public. This is best done by a reduction in taxation not on the elite, but where it actually matters, on the poor and middle class, which would use these funds directly putting them back into the economy.
NOTE: This is my first article for “Never Silent” and there will be many more to come.
Released for publication on Never Silent. May be reproduced if credit is given to both Christopher Klein as author and Never Silent as source.
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