Supply side “Reaganomics” - cutting taxes on the rich and starving social services, while boosting spending on the military industrial complex, concentrates wealth in the hands of a few, slowing out consumer-based economy. As working families have less disposable income, business investment turns to privatizing public functions, like sch…
Supply side “Reaganomics” - cutting taxes on the rich and starving social services, while boosting spending on the military industrial complex, concentrates wealth in the hands of a few, slowing out consumer-based economy. As working families have less disposable income, business investment turns to privatizing public functions, like schools and prisons, to make profit from government spending instead of consumer demand. After the Great Recession of 2008 we bailed out the banks, but not so much the homeowners. (Granted, it was a fiscal crisis, brought on by deregulation and corruption, and the banks needed rescuing, but it still shifted wealth upwards.) Sending money to millionaires, or trickle-down economics, is a very inefficient way to boost the economy.
Demand side, Keynesian tax and spending programs shift buying power back to working families, and stimulate the economy. Food stamps, increased minimum wages, protecting families from unaffordable medical and insurance payments, reducing college debt, expanding workforce housing, all increase the spending power of working families, the great engine of the American economy.
It might help if we called Keynesian spending “economic stimulus” instead of welfare.
Supply side “Reaganomics” - cutting taxes on the rich and starving social services, while boosting spending on the military industrial complex, concentrates wealth in the hands of a few, slowing out consumer-based economy. As working families have less disposable income, business investment turns to privatizing public functions, like schools and prisons, to make profit from government spending instead of consumer demand. After the Great Recession of 2008 we bailed out the banks, but not so much the homeowners. (Granted, it was a fiscal crisis, brought on by deregulation and corruption, and the banks needed rescuing, but it still shifted wealth upwards.) Sending money to millionaires, or trickle-down economics, is a very inefficient way to boost the economy.
Demand side, Keynesian tax and spending programs shift buying power back to working families, and stimulate the economy. Food stamps, increased minimum wages, protecting families from unaffordable medical and insurance payments, reducing college debt, expanding workforce housing, all increase the spending power of working families, the great engine of the American economy.
It might help if we called Keynesian spending “economic stimulus” instead of welfare.