BC Shelby: ‘Trickle-down’ economics is a proven failure | Opinion

Dear Editor: Once again Dave Zweifel and I are on the same wavelength. Indeed, supply-side/trickle-down economics has yet to work as “advertised.” For three-and-a-half decades the only ones who really benefited from this policy have been those at the top of the economic food chain. Supply-side economics was little more than a ruse to give into greedy interests that had no intention of creating good-paying jobs and reinvesting in this nation, as evidenced by wages “flatlining” for decades along with periods of high unemployment.

Meanwhile, corporate profits have grown while the rich became even richer. widening the economic gulf between them and the working class. Instead of investing in operations and jobs here at home, corporations became the job creators in other nations, in particular, those that had low standards of living and at best poverty level wages. Furthermore, the nearly $3 trillion in profits from these operations have done nothing for us or the economy here, as they are stashed in offshore tax havens. Even given that and the “actual” tax rate many corporations pay, they still whine that they are taxed too much.

Before the Reagan tax cuts companies could get tax relief, but only if they reinvested in operations and their workforce here at home. Those tax cuts carried no mandatory provision for doing so, just a “promise.”

Now Trump and the Republican right expect us to swallow this bald-faced lie once again.

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BC Shelby

Portland, Oregon

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