When President Reagan dusted off trickle-down economics, calling it “supply-side economics,” I was shocked. My 1962-1963 high school history class recognized “trickle-down” economics as a major contributing factor to the Great Depression’s severity.<\/p>\n
Before the 1929, trickle-down polices had led to extreme concentrations of wealth. During the Depression, economic royalty had money to invest, but didn’t. America had workers, factories and raw-materials, but Americans couldn’t afford the products they produced. Hence, managers laid off workers, cut wages, lowered both production and demand, and the economy spiraled down.<\/p>\n
Since Reagan, wages have stagnated, while new wealth goes to the top 1\/10th percent.<\/p>\n
Economist Robert Reich’s documentary “Inequality for All” demonstrates that income inequality is as high now as it was before the Great Depression. And now Republicans offer the same failed solution: tax cuts to the wealthy so they will create jobs? Insanity is doing the same thing and expecting different results. “Trickle-down” is just a rationalization for concentrating wealth\/power, and is fundamentally undemocratic.<\/p>\n
Four-hundred of the wealthiest Americans have as much wealth as the bottom 61 percent of Americans: 194 million people. Do they really need more? An unknown wise man asked, “Is feeding all the oats to the horse, the best way to feed the birds?”<\/p>\n
Based on his voting record, Dave Reichert supports the Republican Party’s efforts to concentrate wealth\/power and not the middle class. It’s time to find a representative who recognizes the failures of the past and supports policies providing economic prosperity for all.<\/p>\n
– Roger Ledbetter<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" When President Reagan dusted off trickle-down economics, calling it “supply-side economics,” I was shocked. My 1962-1963 high school history class recognized “trickle-down” economics as a major contributing factor to the Great Depression’s severity.<\/p>\n","protected":false},"author":106,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yst_prominent_words":[],"class_list":["post-30444","post","type-post","status-publish","format-standard","hentry","category-letters"],"_links":{"self":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/30444"}],"collection":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/comments?post=30444"}],"version-history":[{"count":0,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/30444\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media?parent=30444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/categories?post=30444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/tags?post=30444"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/yst_prominent_words?post=30444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}