The Trickle down lie and tax the Rich Fallacy

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The Trickle down lie and tax the Rich Fallacy

Published: Sunday, August 14th, 2016 @ 10:18 am
By: Bobby Tony ( More Entries )

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As we once again revisit the "Trickle Down lie" and the "Tax the Rich" it is instructive for those who want more than a few Occupy Democrat Memes for their argument to delve deeper into the facts. Maybe we should spend more time discussing and debating the spending side of the equation rather than the funding side. Are we spending the collected tax money to improve opportunity or just to buy votes? Bobby Tony

Thomas Sowell Quote:

" While there have been all too many lies told in politics, most have some little tiny fraction of truth in them, to make them seem plausible. But the "trickle-down" lie is 100 percent lie.

Let's do something completely unexpected: Let's stop and think. Why would anyone advocate that we "give" something to A in hopes that it would trickle down to B? Why in the world would any sane person not give it to B and cut out the middleman? But all this is moot, because there was no trickle-down theory about giving something to anybody in the first place.

The "trickle-down" theory cannot be found in even the most voluminous scholarly studies of economic theories -- including J.A. Schumpeter's monumental "History of Economic Analysis," more than a thousand pages long and printed in very small type.

It is not just in politics that the non-existent "trickle-down" theory is found. It has been attacked in the New York Times, in the Washington Post and by professors at prestigious American universities -- and even as far away as India. Yet none of those who denounce a "trickle-down" theory can quote anybody who actually advocated it.

The time is long overdue for people to ask themselves why it is necessary for those on the left to make up a lie if what they believe in is true."

Here are two videos, First is a four minute review by Milton Friedman, the second is 40 minutes long and is instructive for those who wish to delve into the intracasices of policy discussion. Take the four minutes to see Milton argue the alternative to tax the rich.