UAW - Game Over!

No wonder you have such faith in supply side economics!

If we can all just hang on a little longer, the trickle down is projected to reach the upper middle class sometime around 2067 and it shouldn't be long after that before it reaches the middle class itself (assuming there's one left by then).

 

I wonder how much this lawyer sitting between Clemens and MacNamee is billing MLB for his time. He's lucky they aren't paying him by the word.

 

I think someone's lost.

 

It could be construed that way, true.
It's more absolutist laissez-faire generality, though, and that isn't necessarily summed up by "supply-side," which is a nonsensical theory regarding taxation and government revenues. But our boy sig is arguing the underlying philosophy out of which grew the nonsense that is supply-side economics.

 

Well, it was a fringe theory cooked up by crackpots at the ESJ that to this day has no real widespread support among economists. The two times it's been tried have resulted in horrendous deficits.
And I can suggest a reading list you can argue with:
http://www.amazon.com/Big-Con-Washington-Hoodwinked-Economics/dp/0618685405/ref=pd_bbs_1?ie=UTF8&s=books&qid=1202935749&sr=8-1

http://www.cbpp.org/3-8-06tax.htm
http://economistsview.typepad.com/economistsview/2007/07/cbo-supply-side.html
http://www.huppi.com/kangaroo/5Debt.htm
I suggest the Cromer paper from Cal entitled (I think) "Starving The Beast," as well.
And that last one is the giveaway. Supply-side is a classic example of a nonsensical economic theory devised to fit a specific political agenda. The first goal was to lower taxes on the wealthy. (David Stockman famously told William Greider in the Atlantic that supply-side was a "Trojan horse" for lowering the top rate.) It's second goal was to starve the government of revenue so as to get rid of programs of which the Reagan people disapproved. There were no corresponding cutbacks in military spending, which is part of the reason the deficits exploded, and part of the reason Stockman eventually quit. Having covered the Reagan campaign in 1980, I can tell you they were quite open about these two goals, and supply-side was the quack nostrum they used to get their way.
Hence, by the way, the recession of 1982.

 

Fenian could always hit Arthur Laffer's curve.

 

The "trickle" in trickle down economics is a Republican pissing on my head.