How should I describe my relationship with trickle-down economics...? I'll put it like this: I believe in trickle-down hardship but not trickle-down wealth. In other words, I believe in the basic precepts of greed.
And the way I see it, the Democrats are too oblivious to the fact that punishing the rich will only encourage them to squeeze more out of the middle class and the poor. On the flip side, the GOP is too oblivious to the fact that tax breaks and other special treats for the rich will only make them richer and widen the income gap.
So it's basically a wash. In good times I think the Democrats' strategy is the best of the two because the consequences are not as severe. During bad economic times, I think the Republicans' strategy is best because at least it won't
hurt.
Anyway, if we're talking tax policy, I'm a big proponent of setting the rates at some fixed spot and leaving them there forever.
Reagan's massive tax cuts were problematic because, as we've now seen, they've gotten the country used to a new normal that is not exactly sustainable. And raising them to where they probably should be would be politically untenable and catastrophic for people who did not plan accordingly (almost everyone).
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