"Trickle Down (Economics)": Is it solely a Republican ideology?

[JanMichael]

Sure Bush I called it "Voo Doo Economics" but HEY! Don't all parties use the idea of enriching the richest as a catalyst for enriching the rest of us as doctrinaire? Isn't that the third way? The new way of thinking?

Hasn't it already been embraced by all?

[JohnLocke]

1. In a word: No.

[Dookus]

2. No

of course not.

[EstimatedProphet]

3. Trickle down has been shown not to work

and it still doesn't.
It's simply a way that corporations try to seel the idea of them getting money for nothing to the public.

[Nevernose]

6. We tried it before

Most historians refer to "trickle down economics" as the "Middle Ages."

[Nevernose]

4. George Bush named it "Voodoo Economics"

Lest we forget, it was GHWB that named it "Voodoo Economics" in his 1980 run aginst Reagan. But, then again, compared to his son, Herbert Walker looks like a freaking liberal.

[Virginian]

5. Sometimes it works

When my company lost the contract to an H-1b company, they weren't making any money, so they had to let me go. After I lost my job, I wasn't making any money, so I had to let the cleaning service go. That was trickle down unemployment, does that count?

[GreenPartyVoter]

7. Folks who cozy up to corporations like the trickle down theory

[Touchdown]

8. Many libertarians are for it as well.

Some of the moderate ones, who see a necesity for taxes. It works for their philosophy.

I'm sure a Libertarian will respond to me in that predictable "You know nothing" line as he's berating my statist idology while hypocritically using Al Gore's government funded information superhighway.:eyes:

[hedgetrimmer]

9. I like to call it "Trickle up economics" regardless of which party is

professing it...

[AussieInCA]

10. no, model for business in the US and UK

shareholder wealth maximization (SWM) is the basis of how it works here. The model assumes the benefits of this approach provide a trickle down effect rather than considering all the stakeholders in maximizing wealth (such as labor, community, environment). SWM considers these issues of equity go against economic efficiency and a breakdown in the market.

[newyawker99]

13. Hi AussieInCA!!

Welcome to DU!! :toast:

[starroute]

11. Trickle down goes back a long way before Reagan

My mother told me about it when I was a little kid, and that was the 1950's. I think she must have been remembering it from the 1930's. Trickle down was what the Hoover adminstration counted on to end the Depression, and priming the pump was what FDR offered instead.

(Of course, she had to explain to me what priming the pump meant. It apparently had something to do with the old handpumps you still see standing around decoratively on people's lawns. The siphon action, or whatever it was, wouldn't work unless there was water in the pipe, so you might have to pour a little in at the top to get the pump to start bringing more up from the bottom.)

At any rate, the point is that trickle down was already very old by the 1980's and had already failed decisively once. Isn't it amazing how they manage to keep being wrong in the same way over and over?

[orwell]

12. Same Old Same Old

Trickle Down was first coined by Treasury Secretary Andrew Mellon in the 1920's as part of Calvin Coolidge's administration.

Of course, the powers of the new regulatory commissions were limited and the courts remained in the hands of conservatives solicitous of the rights of Big Business and protectors of the principle of Freedom of Contract. In the 1920s, with an almost religious intensity represented by Calvin Coolidge's pious proclamation, "the business of America is business. He who builds a factory builds a temple, he who works there, worships there," conservative Republicans staffed regulatory agencies with militant opponents of regulation and made the trickle-down theory of detaxation, deregulation, and privatization preached by Secretary of the Treasury Andrew Mellon into national policy. The idea, as Coolidge's predecessor, Warren Harding said, was to get government out of business and make government work like a business, an idea which carried the day until the Great Crash, but then flew or jumped out the window with a number of prominent brokers, bankers and big business executives. In the economic carnage which followed, the Dow Jones average dropped by 92% from its peak, unemployment reached somewhere between 25% and 38% of the work force at its peak (the lower figure comes from the Hoover administration) and salaries and wages dropped far more than prices, leading to a steep decline in purchasing power and living standards for the great majority of people who were able to hold unto their jobs.

http://hnn.us/articles/892.html

There is nothing new under the sun.

O