Quote:
Originally Posted by Mattyk72
So are we talking "trickle down" economics?
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Yes and no. In a true trickle-down, or supply-side economic system, you would only want to reduce taxes on the rich based on the theory that giving the rich more money would cause them to invest more, spurring growth in American business.
So Obama's proposed increase in taxes would hurt American business growth in this manner.
But neither Obama nor McCain are suggesting that middle class or the poor should have the Bush tax cuts revoked. Both suggest that they should not pay more, and Obama even suggests they pay less. So neither is championing a true Supply-Side economic theory.
But here are some works provided by some of the greatest economic minds in history, explaining and supporting a trickle-down approach:
The Wealth of Nations - Wikipedia, the free encyclopedia - Adam Smith