‘Trickle-down’ economics widens rich-poor gap
The AJC-sponsored survey (News, Jan. 15) of Georgia voters indeed “mirrors national surveys showing voters are cool” to the recent federal tax legislation — about 46 percent disapprove, about 20 percent are uncertain. Further, nearly 40 percent anticipate the legislation as a “drag” on the economy, while 20 percent see “no difference.” Interestingly, Georgia voters’ insights generally correspond with those expressed by national opinion-makers, including economists from a University of Chicago survey, i.e., expectations are “inflated” and “unrealistic.”
The legislation is the most recent version of the Reagan era’s supply-side economics: reduced taxes will accelerate economic growth, increase revenues, reduce deficits/debt, and benefits will eventually “trickle down” to all income groups. However, the results were generally dismal. Not only national debt almost tripled, but there was “trickle-up:” income-inequalities increased sharply.
Some refer to “trickle-down” as the “horse-and-sparrow” thesis: if you feed the horse enough oats, some will pass through the horse and ‘trickle-down’ on the road for sparrows. Most expect that scenario as the realistic possibility from current legislation. The pro-business/pro-rich legislation will likely fatten the horses, and further widen the rich-poor gap.
S.M. GHAZANFAR, ACWORTH
Booker’s speech full of drama, posturing
Cory Booker put on quite a performance at the DHS hearing. He thinks he is outraged; Believe me when I say I am equally so. To think that a sitting Congressman could take up everyone’s time with a rehearsed speech, full of drama and complete with all the staging of a Hollywood play, hoping that will propel him into a leader’s position is preposterous. Talk about having psychiatric testing. Here is an example very plain to see. Someone throw him the hook.
MEL MATUSZAK, DACULA
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