Yesterday (2008-10-15), national radio host Michael Savage described Barack Hussein Obama’s economic plans for our country as “Trickle-up Poverty”.
He declared “Under Obama, the business owners in this country who drive the economy will be put to work by being forced to pay crushing taxes that will fund gold-plated healthcare for illegal aliens and welfare cases. Private enterprise may not actually be made illegal, but so many businesses will die under an Obama administration that the same goal will be accomplished. Instead of trickle-down economics, we’ll have trickle-up poverty.” (reference)
When Ronald Reagan became President, the country was suffering from the Carter administration’s high inflation and high unemployment (commonly called stagflation). Then during Reagan’s years in office, the economy performed much better. The enormous success of Reagonomics is a well-documented historical fact. Because he cut tax rates more sharply for businesses and the wealthy, some called it “Trickle-down Economics”. It worked; it worked very well.
Mr. Obama, here’s a couple of quick questions for you.
When you penalize successful businesses with MUCH higher taxes, won’t they lay off employees in order to balance the books?
When you penalize successful businesses with MUCH higher taxes, won’t they raise prices for their services and products to end consumers?
So, when fewer folks have jobs and nearly everything you buy costs more, how does that help the middle class?
Apparently though, only Joe the Plumber has been able to get Obama to honestly answer a question about his plans.
Obama’s plans for our economy should, indeed, therefore accurately be called “Trickle-up Poverty” as he takes from the hard-working Americans to “spread the wealth around” to those whose refuse to apply themselves industriously. His plans are utterly opposed to self-reliance (the American way of life) and strongly in favor of maximizing our dependence on the federal government (the Socialist way of life).
On 2008-10-20, national radio host Rush Limbaugh used the term responding to a caller: