07/25/2022
Republicans have long proven that they have no problem with wealth redistribution. It just depends on who you give that wealth to. Money to the richest among us is labelled as "incentives", yet when given to the economically disadvantaged, it is "socialism" and those who use those programs are demonized as "welfare queens"
In 1980, President Reagan, proposed "Trickle Down Economics". The idea was that the government would give tax breaks to the upper class and subsides to corporations. They in turn would shower money down from the veranda of their gilded towers to the masses and this would spur the economy on.
What happened? They hoarded the money. They used it to buy lobbyists to reduce THEIR tax burden, Corporations gave money to their boards and CEOs and kept wages for the working classes low. They hid it in offshore accounts. Then they convinced people that inheritance taxes were bad, so that they could pass it on to their children. This did not spur our economy, it stalled it.
Maybe it is time we tried "Bubble Up Economics". We increase wages, we create subsidies for the lower and middle-classes - hardworking families that are just trying to make ends meet. We invest in healthcare, so people don't have to go bankrupt over a health crisis. We try to eliminate food scarcity. Heavens forbid that people spend the money on such luxuries as housing, food, and healthcare.
This would encourage spending and reinvesting in our communities and local businesses.