President Obama’s Trickle-Down Tyranny
By Mark LaRochelle @ Human Events (July 25, 2012)
One of President Barack Obama’s favorite rhetorical ploys is to accuse presumptive Republican presidential nominee Mitt Romney of favoring “trickle-down” economics. President Obama likes this line so much, he has taken it from his campaign speeches to use in presidential addresses.
Obama borrowed the term “trickle down” from 1984 Democratic presidential nominee Walter Mondale, who found the phrase so effective that he lost to President Ronald Reagan in a landslide, losing 49 out of 50 states.
Obama uses the phrase “trickle-down,” as Mondale did, to belittle the idea President Reagan expressed in announcing his “across-the-board, top-to-bottom cut in personal and corporate income taxes.” Reagan argued that tax reform must cut rates not only for those in the lower and middle brackets, but also for those in the “upper brackets, who can thereby be encouraged to undertake additional efforts and enabled to invest more capital.”
Oops, that wasn’t Reagan; it was Democratic President John F. Kennedy! Nevertheless, Kennedy’s argument is precisely what Obama now ridicules as “trickle down.” There’s no longer room for men like Kennedy in Obama’s radicalized Democratic Party.
It’s true, as Obama says, that the United States has tried such tax reform in the past, most notably under Mondale’s bête noire, Reagan. According to Obama, “That doesn’t work. It’s never worked.”
In short, the Kennedy-Reagan policy of tax cuts, including for those who pay the highest marginal tax rates produced results far superior to Obama’s class-warfare tactics. By suppressing investment and growth, Obama is depriving the unemployed of jobs. Whatever is left after various bloated government bureaucracies get through with it, he proposes to redistribute among those he has thus forced into dependence—the ultimate in “trickle-down” tyranny.