Trickle-down economics don’t work | Letter

Trickle-down economics gets its name from American humorist Will Rogers’s: “The money was all appropriated for the top in the hopes that it would trickle down to the needy.” (St. Petersburg Times, 11/26/1932).

At the time, Rogers was referring to the economic policies of President Herbert Hoover and the Republican-majority 70th and 71st U.S. Congresses. They’d spent years prioritizing the interests of the wealthy and corporations over the public good, not only driving the U.S. into the Great Depression but prolonging and deepening the crisis.

Rogers continued: “Mr. Hoover … didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night.”

The research supports Rogers. The wealthiest 400 Americans already have enough money to raise wages and create jobs — proportionally they hold as much wealth now as their counterparts in the 1920s.

The lower- and middle-classes, however, have little to no discretionary income. Give those 70,000,000 households a tax break and they spend the majority of it, strengthening demand and thereby aiding the economy and becoming their own “job creators.”

Trickle-down economics failed the U.S. when Hoover implemented it, when Reagan implemented it, and when Bush, Jr. implemented it. It’s time for Congressional Republicans to stop supporting the trickle-down economics fairy-tale and support policies that benefit everyday Americans who make up the majority of U.S. households.

Eve Gordon


More in Letters to the Editor

In defense of Petzold and critical thinking | Letter

I was born in 1947, and yes, my generation has failed the… Continue reading

Global warming is the greatest moral crisis of our time | Letter

What do “freedom” and “patriotism” really mean? In an effort to convince… Continue reading

Newspaper delivery method just isn’t delivering | Letter

I love reading the Valley Record for its local news but I… Continue reading

Don’t blame the Republicans for wanting to protect America | Letter

I shudder when I read about the fear tactics that blame mass… Continue reading

Open letter to Rodne: Correct your voting mistake on public records act | Letter

To Rep. Jay Rodne: I am thoroughly disgusted by your actions on… Continue reading

Tell legislators to eliminate roadblocks to gun law reform | Letter

Another mass school shooting breaks our hearts. Yet Congress refuses to legislate… Continue reading

American Lung Association applauds Larson’s opposition to repeal of Clean Power Plan | Letter

The American Lung Association applauds Snoqualmie Mayor Matthew R. Larson for standing… Continue reading

School shooting inspires a new take on Niemöller’s ‘First they came’ | Letter

First they shot up Columbine High School. But I didn’t say anything because I didn’t live there, and I love my gun.

Hope springs from Florida school shooting, in youth movement | Letter

There is a sliver of hope amidst the utter gloom of the… Continue reading

If our leaders won’t change gun laws, it’s time to change our leaders| Letter

I couldn’t sleep last Wednesday. I tossed and turned, the images of… Continue reading