Rachel Maddow on Ronald Reagan’s Failed Trickle-Down Voodoo Economics
Rachel Maddow did an absolutely wonderful job dismantling the Republican talking points that Ronald Reagan’s “Voodoo Economics” or “trickle-down economics” worked, pointing out how the Republicans who keep coming on the air claiming that tax cuts for the rich benefit the “job creators” are full of a bunch of bullpucky. The people who end up primarily benefiting from these tax cuts are the rich, who as Rachel showed in the footage from when Reagan’s tax cuts first passed, spend more on luxury items they don’t even need, while the rest of us get to feel those economic benefits trickling down our heads in the form of something besides water. Now if we just had every pundit making things this clear to the American public instead of allowing the Republicans to come on the air and lie about “job creators” being taxed day… after day… after day… maybe… just maybe we’d have a less misinformed public. Sadly this segment on Rachel’s show isn’t required viewing for every citizen in the United States. Her charts and graphs about what’s happened to the incomes of the rich and the poor sadly are ones that we’re not seeing on any other broadcast as well. Pass this one on to your friends and neighbors. We need to be letting every member of Congress and President Obama know it’s not acceptable to see these tax cuts for the rich allowed to be extended at the expense of bankrupting our country or attempting to balance our budget on the backs of the working class and the poor. Kudos to Rachel for laying out the lies about tax cuts trickling down to the rest of us so plainly. UPDATE: Compare and contrast that to lying hack Pat Buchanan who appeared with “Democratic strategist” Peter Fenn on MSNBC today after the first two votes for a partial extension of the tax cuts failed. Click here to view this media
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Rachel Maddow on Ronald Reagan’s Failed Trickle-Down Voodoo Economics
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on December 4, 2010. Filed under