Reply #12: That's why they denied that their policy was in fact just the old "trickle-down" idea [View All]

[kenny blankenship]

People would be offended by the "trickle down" label and would resist changes made to the tax code if "trickle down" was used as a justification, so they called it Supply-Side Theory instead. They said it was something completely new and the hot academic theory that was ahead of its time rather than a relic from the 1920s. But Reagan's budget director, David Stockman, admitted that supply side tax cuts were nothing more than the old trickle down theory in interviews with William Greider, and that the promotion of middle class tax cuts were not based in any theory but were simply a "Trojan Horse" used to obtain the whopping reduction of the top marginal tax bracket for the rich. The Education Of David Stockman.
http://www.theatlantic.com/doc/198112/david-stockman/5

People would have been offended but people didn't read and when the govt said it was handing out "free money" they didn't ask questions. Now we're history's largest debtor nation and must go even deeper into the hole to stave off total collapse.