Trickle-down economics is Obama's card

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  • Kent C. DeForrest Provo, UT
    Oct. 23, 2012 9:15 a.m.

    There are at least two problems with this letter. First, President Obama doesn't "allow" the Fed to do anything. Actually, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." The President appoints the Fed chairman. After that, he has little control over the day-to-day details.

    Second, "Mitt Romney is trying to empower the lower and middle classes with jobs. There is nothing 'trickle down' about that." Well, actually, this is exactly what trickle-down economics is all about. The wealthy supposedly get tax breaks and other economic advantages and then pass on a little bit of this advantage by creating jobs and paying people a nominal wage. Hence, the term "trickle."

    But the working classes will never gain ground on their owners until the wealthy pass on more wealth PER CAPITA than they retain. This never has happened and never will happen. The corporate system itself is, by definition, a trickle-down economic system that always increases inequality. So, this letter is just more partisan nonsense.

  • My2Cents Taylorsville, UT
    Oct. 23, 2012 3:59 a.m.

    Trickle down economics is not an option and is no longer a part in our economy. With $18 trillion dollars of spending he still doesn't have a clue. Trickle down economics only works in an industrialized economy where US manufacturing and industry jobs. It is the industries in the country that creates jobs, not this foreign aid economics the president believes in. All government spending has created a trickle out, not a trickle down economy.

    For trickles down economics to work, all federal funds and spending must remain in this country in our factories and business who create jobs in the USA. A dollar spent on the american economy grows 7 fold, a dollar spent in China is a zero(0) benefit.

    Utah has wasted $50 billions dollars on road and rail project over the last 15 years and the only share of tat went to a few hundred jobs to contractors hired to import and use foreign goods and products and illegal labor. A $50 billion dollar pocket book this state should want for nothing and welfare and poverty should not even exist. But all these funds went to China, Mexico, Europe, and fake industries.