Trickle Down Doesn’t Work
August 22nd, 2007 by Sonny
From the “No Shit Sherlock” Department:
2005 Incomes, on Average, Still Below 2000 Peak - New York Times
Robert S. McIntyre, the director of Citizens for Tax Justice, said that even though he expected a few very wealthy people to reap most of the tax savings generated by lower tax rates on dividends and capital gains, the size of the savings “still takes your breath away.”He said the tax savings at the top, combined with lower average incomes after five years, “shows that trickle down doesn’t work.”
Trickle down is on the the list with Iraqi WMD’s, the Laffer curve, unicorns and the Easter Bunny…
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