Trickle down economics

Republicans, unbelievably, are once again forcing trickle-down economics on the United States, despite the idea being almost unanimously derided by reputable economists and financiers. It’s almost as if Republicans are unaware that the latest experiment in trickle-down has practically bankrupted the state of Kansas and has done little or nothing for North Carolina. But they can’t leave this bogus ideology alone.

What does work economically is to put cash into the hands of the poor and not-so-poor, because they immediately go out and spend it, either on better health insurance, a real holiday, new clothes or something better than fast food. The bouncy resulting profits still eventually accrue to the donors of Republican Congressmen in the form of dividends – it just takes a little more time to filter through. In the meantime poorer people have bigger incomes and, very importantly, feel better about the world, less abandoned and more accepting of immigrants, maybe. But somehow Republican politicians have an ideological aversion to the less well-to-do. They yatter on about the latter, but seem to secretly despise them as “losers”.

I am advocating what actually works to boost an economy. Call it TRICKLE-UP. It benefits everyone. Meanwhile, a banker I spoke to the other day tells me the money in banking circles is on a crash in the last quarter of 2019 and an end to an improving economic cycle originating with the previous Administration. For what it is worth you have been warned!

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