Mitt Romney Got Rich Off Trickle-Down: Did You?

I know I have been mostly absent for a long time now and I do apolegize. The last year or so I have faced many challenges and it has been hard to remain focused on much. However, the last couple of weeks I looked up and noticed a very frightening thing. Many Americans are seriously considering giving Mitt Romney and the Republican Party he "leads" control of the White House once more. I cannot sit idly by and not fight against that happening with every fibre of my being.  
Anyone who ever reads this that started out in the seventies or just after has seen the same things I have. Now, I admit that on many fronts President Obama did not fight hard enough. I think he probably tread lightly because of so much vitriol that had been directed his way. I knew all along even in the Democratic primary of 08 that he would be a centrist and attempt to "reach out" to Republicans.

Many of us in the Democratic Party and the Progressive movement knew this would be failed strategy. You simply cannot negotiate with someone that is not interested in negotiating. The Republican form of "compromise" is them getting everything they want and snuffing out any Progressive reforms that are even discussed. As I predicted, Obama reached out and drew back a bloody nub from Mitch McConnell and John Boehner.

What really bothered me is that I had a lifelong friend whose family is dear to me tell me the other day that "coservatism is all that can fix America", and it just dumbfounded me. The only question I have for anyone who says that is how??

This Conservative, trickle-down garbage has been enacted for almost my whole life. It started with Ronald Reagan. Since then we have had two Bushes and two Centrists. The result is that trickle-down has bankrupted our country and shipped most of our industries overseas. Incomes have fallen or remained stagnate for all but a very few of Americans. We cannot even talk about a jobs bill to invest in our own country and create jobs rebuilding our outdated infrastructure because we simply aren't allowed to invest in our own people or country unless its tax breaks for the rich.

Through this all our country has not gotten what it truly needed to recover, and I can promise my friend it is definately not "Conservatism". It is real, unapolegetic Progressive vision. Our problems have been caused Conservatism run wild with trickle-down and deregulation type policies. It is real Progressive reform and vision that will bring equality back to our system.

Those of you who suscribe to this trickle-down nonsense should look at this chart:


As you can easily see trickle-down not only produced slower growth in the three decades it was enacted compared to previous decades, it eventully crashed the economy through the floor because nothing ever trickled back down and now too few Americans have expendable income to contribute.

But don't take my word for it:

Republicans say if we increase the top tax rate it will have a negative impact on the economy, but the chart clearly illustrates that at the same time the top marginal tax rate has trended down, so has Real GDP. As the top tax rate for high income earners has decreased we have seen reduced economic growth. Let me say that another way. While top income earners keep more and more of their income the growth of the economy has reduced from its 1950s and 1960s highs.

We are told by Republicans that tax breaks for the wealthy will lead to a trickle-down of wealth to everyone else. If that is true, shouldn't it lead to greater consumption and greater economic growth? This chart shows otherwise.

The third interesting thing in this chart is the period from the early 90s to late 90s. During this time the top tax rate increased at the same time economic growth increased. The economic growth of the 90s isn't enough to reverse the 53 year trend but it serves to debunk the idea that increasing the top tax rate will hurt the economy. But I can no more make the case that increasing taxes would help the economy as Republicans can make the case for the opposite. What I can say is that trickle-down economics doesn't work.

And do not be mistaken Mitt Romney wants more trickle-down economics.

Which is why I have one question for America. Why are you even considering this garbage. Mitt Romney has become very rich off trickle-down. Did you?  

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