Letter: Trickle-down economics not the solution by Richard Laddusire
The political ads are coming fast and furious. The Republicans are again promoting trickle-down economics. Trickle-down economics was used to justify massive tax breaks in 2001 to stimulate the economy. They didn’t work. During President Bush’s term, he used trickle down for eight years, which resulted in massive deficit spending and the worst recession since the 1930s. In 2009, when President Obama took over, we had a recession and a total of over $10 trillion in debt from Republican administrations. I don’t see how anyone can say trickle-down economics works. Now Romney is promising more tax cuts to stimulate the economy. Sounds like that means more debt for our kids and grandkids, like it did before. Trickle-down economics resulted in the one percent adding to their wealth while the middle class lost over 40 percent of their wealth. Check it out if you don’t believe me. Is that what you want? It seems like the rich take care of their own, like Romney taking care of the one percent with tax breaks. Do you really believe that the Republicans are going to eliminate tax breaks to balance the budget? Think about this. Every tax break has a group behind it. Do you believe these groups will continue to support the Republicans if they take away their tax breaks? That means no tax breaks will be eliminated and more money going to the one percent and not into a living wage for the middle class. We are on the road to recovery under President Obama and the Democrats, and need to continue supporting their efforts. Put people first and vote Democrat on November 6.
Richard Laddusire, Rhinelander