Friday, July 30, 2010

Trickle Down: Doesn't Work


According to the Public Integrity website, John Kasich was an overnight guest at the Texas Governor's Mansion when George W. Bush was governor.  How nice.


Kasich has always been of fan of the "trickle down" theory of economics.  He has tried it before when he was in Congress, but President Clinton stopped Kasich from making drastic cuts to schools, nutrition programs for children, and programs for the elderly.  As Republican candidate for governor, Kasich has been pushing his tax cuts for the rich again.  Kasich has failed to understand that his trickle down economic program DOES NOT WORK.  If he were quiet long enough, he might be able to hear someone other than himself.

BNET: (March 12, 1999)

....Congressman John Kasich, (R-Ohio), understands this. When he announced for president last month, he touted his 10-percent across-the-board tax cut not with investment models, but with an American tale of self-improvement. He did not deny the tax cut would be helpful to the rich. He did something unusual: He defended the rich. "You see," Kasich said in his folksy way, "I come from this little town called McKees Rocks, where, if the wind blew the wrong way, you'd find yourself out of work. But you'd know, there's one thing I found out there. The only people who hate rich people are guilty rich people.

"You see" - Kasich loves us to see - "the people who are struggling every day in America, they realize that if a rich guy takes his money, invests it, creates a job - that I get the job. Then I go to college and I get smart, then I buy him out and he works for me. That's the way we see it in middle America." Only rarely does the story turn out exactly as Kasich tells it. But that's irrelevant - this is a parable. Americans do believe in upward mobility, even if it often takes a couple of generations to get there....

....The facts, according to Citizens for Tax Justice, go like this: A 10-percent across-the-board tax cut is worth an average of $99 a year for taxpayers making less than $38,000, but $20,697 for the top 1 percent of taxpayers, who earn more than $301,000....

Short explanation:  "trickle down" does not work. 


****  There is a new Facebook page: John Kasich Treated Me Like Crap (h/t Plunderbund).  There are also some letters in this week's edition of The Other Paper which detail Kasich's unpleasant behavior.