Comment Re:They never worked, ever. (Score 1) 413
Reagan is the primary person to blame for the current economy. Basically he sold the world a pyramid scheme. Trickle down economy is EXACTLY what a pyramid scheme is. The idea that anyone who joins the scheme just pours some money into the top of the pyramid and then reaps his rewards as it trickles down to him. And it works, for the first few layers until to many people are needed to join to keep the system flowing and it all collapses.
Please explain how Reagan's economic policies make everyone "just pour some money into the top of the pyramid". Low tax rates mean you keep more of the money you make, and hand less of it over to the government to distribute to others for some greater good that they've decided on. How does me keeping more of my own money equate to pouring money into the top of a pyramid?
The pyramid scheme you describe is the exact opposite of Reaganomics - it's the essence of liberal government and wealth redistribution. And it fails because it discourages hard work, risk-taking and innovation. Trickle-down economics does work - people who keep more of their money invest and create new jobs. The economic expansion of the '80s and the dot-com boom of the '90s were directly fueled by exactly that. The economic hard times we've fallen on now don't refute trickle-down economics in any way - there is no way to abolish economic downturns or the business cycle, and the European economies which have maintained high tax rates are feeling the same pain and more, while they also failed to match the US economy during the good times.