Monday, October 16, 2017
The 11 Steps To A Healthier (And Fairer) U.S. Economy
A little over three decades ago, the American people were conned by congressional Republicans and right-wing economists. They were told that "trickle-down" (supply-side) economics would benefit all Americans. This is the idea that giving more to the rich and corporations (through tax cuts and deregulation) would benefit everyone, because that extra money given to the rich would trickle down to everyone else in the form of new jobs and higher wages.
That policy was a massive failure. The rich got much richer and the corporations made much larger profits, but nothing trickled down. Workers saw their wages stagnate, and their buying power actually fall as inflation ate away at those stagnate wages This trickle-down policy is slowly turning the U.S. into a country of "haves" and "have-nots" as it destroys the once vibrant middle class.
Now Trump, and his congressional Republican cohorts, want to double-down on this failed economic policy. They claim they want to give the middle class a tax cut. Unfortunately, it's just another huge lie. Their tax cut plan would actually benefit the rich and the corporations, while giving some in the middle class a small cut and actually raising taxes on others. It's just more trickle-down nonsense.
It doesn't have to be this way. There are ways to improve the economy for everyone (if the Republicans could be voted out of power). Here are the 11 steps, from the Economic Policy Institute, that could (and should) be taken to fix the economy -- making it healthier and fairer.