President
Obama, amazingly, talks as if he dislikes "trickle-down
ideology." This is amazing because his entire economic program involves
giving money to big businesses in the hope this money will trickle down. Liberal blogger Matt Yglesias put it well when Obama was pushing his "new economic patriotism" during the campaign. If you
want to help the working class, Yglesias wrote:
Taxing doctors in
order to subsidize factory owners ("invest in manufacturing") so that
they'll hire some waitresses to go become factory workers seems like an
exceptionally roundabout way of accomplishing the goal. I use
the image of "feeding the horses to feed the birds," and point out
that Obama's subsidies for Boeing, Pfizer, General Electric, and Archer Daniels
Midland are more deserving of the name "trickle-down" than flattening
out the tax code is…..To Read More….
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