Reagan

The Death of Trickle-Down Economics

I suppose this reality is why Mitch McConnell was willing to get in bed with Trump. The IMF had something to say on this topic in 2015, and many others have acknowledged the failures of Trickle-Down. You don’t need any graphs and charts to know that in the last 40 years poverty has steadily grown, homelessness has exploded, most kids are now living with their parents long after they aren’t kids anymore, and mashups of urban blight and gentrification all in the same city limits. It’s kinda “in your face”.

There are more reasons I don’t need charts and graphs to make this point, like the fact that I’m really just gloating. I see in Joe Biden all of the economic policies that I was hopeful that Obama would bring, but never did. These policies are the only motivating factor in my entire voting life.

This one topic is more pivotal for our society than anyone realizes, except for those who have been exploiting it to its fullest. Trickle-Down Economics has empowered the wealthy and giant corporations to levels far above most small countries. This was the intent of Trickle-Down Economics, it’s how Reagan won the cold war, so it’s told. But we are still living with that monster and it attacked the capital on January 6th, under the direction of those who wouldn’t have a damn dime if they actually had to work for it.

Our constitution recognizes at its core that the concentration of power is dangerous, and Reagan’s economic policies were designed to circumvent the checks on power that our constitution was designed to provide to our society and hand power in our own country back to the rich and powerful, undoing centuries of political evolution away from European aristocracy. This should also serve as a cautionary tale about too much privatization of any part of our government and the potential for profiteering and private power-seeking to destroy our way of life.

Martin Luthar King Jr knew how central economics was and still is to equality and civil rights. So when we heard Reagan espousing nearly naked racist comments on welfare, the welfare mom driving luxury cars, etc, the correlation there is just as easy to see. Is anyone shocked that the contemporary Republican party continues to support an economic policy that places black people under more control than the constitution would allow one to exert otherwise? Under which system but one that prefers the already wealthy and economically disempowers everyone else could such power, socially and economically, be wielded over the average black American?

I would wager you a cup of coffee that more Americans live a rented life than those who don’t. Americans no longer own any piece of America. We rent our homes, our cars are on credit, our furniture is on credit, and with a few missed paychecks would go from the appearance of doing great to destitute and homeless. We are a house of cards and COVID-19 was just a gentle breeze.

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