An op/ed in today's WaPo by three stooges... er "scholars" at the far right American Enterprise Institute (Alan Vicard, Alex Brill, and Arthur Brooks) takes great issue with Obama's tax plan. Why? Well, because it doesn't "reduce the tax penalty on work and saving." Translation? The tax cuts for the wealthy will end! The "entrepreneurs" will have less incentive to earn and create jobs! There will be no Trickle Down!
This last bastion of the four- decade- old right-wing economic ass-hattery known as "Trickle Down economics" has been all but routed following the debacle of the last eight years (stagnant growth, except in the gap between the rich and the middle class) and the catastrophe of the past few months. But, just under this Trickle Down Triplets' op/ed is a partial rebuttal by Harold Meyerson, from which we would like to quote:
"...[T]he coming Republican calamity is a consequence of public anger at the economy that predominantly Republican perspectives and policies have shaped over the past four decades, in which the vast majority of Americans no longer share in the prosperity of good times and get clobbered when the economy turns bad."
Amen.
(Photo: Messrs. Viard, Brill and Brooks of the American Enterprise Institute)
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