Many Republicans believe in trickle-down economics. They believe tax cuts for the rich will lead to investment and jobs. Republicans are saying this. They have been saying this for 30 years. The evidence doesn't seem to support the idea. Huge tax cuts for the rich in the Reagan and Bush years have made the rich a lot richer, but they haven't done much by way of creating jobs. There just hasn't been much trickling down.
The fact is we now have the most unequal distribution of wealth and income in the history of the U.S. So what are the rich doing with all that money? Well, they live better, creating more low-wage jobs in the service sector. They also invest a lot overseas, where low wages lead to greater profits. And they have invested big time in Wall Street's house of cards.
Democrats tried to impose taxes on short-term speculative transactions that do nothing to create jobs. Republicans opposed this. Democrats tried to take away tax breaks for overseas investments. Republicans opposed that.
Anyone who thinks this time trickle-down will finally work, vote Republican. Otherwise, vote Democrat -- straight Democrat.
Dick Hudelson
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Duluth
