Economic Hype and the Trickle Up Effect

Okay… I admit. I’m a serial commenter on various news sites (CNN, Huff, Washington Post). A recent segment that appeared on CNN bore this headline: Who’s winning the debt debate?

Need I summarize the topic? Essentially, the writer posits the question and out comes a gushing. One brilliant poster came up with this gem:

There will soon be no wealthy, no nothin’, brainiacs, if we don’t balance our budget. Take all the rich, hang them upside down, and shake all their money out of their pockets. That couldn’t cover the entitlement program at the rate it’s growing.

He couldn’t leave well enough alone, so he parroted yet another gem:

Quit spending more than you make! Can’t understand that?  Think the wealthy held a shotgun to our gov’t and told the gov’t to spend like more than we make?  QUIT SPENDING MORE THAN YOU MAKE. Right now the entitlements are the main drag on the economy, and taxing the rich ain’t going to stop the bleeding, wiseguy. Or don’t you read what the economists are saying?

Of course, the Tea Party ‘factoid’ parade is devoid of rational fact; no footnote that says personal debt and national debt are two completely different things. I doubt many of them ever heard Dick Cheney explain that  “Deficits don’t matter.” Nevertheless, I had to point out that trickle down (Reaganomics) never worked. Historical data proves that point. All low taxes ever did was let the greedy be more greedy.

Here’s Trickle UP Effect for you: support the masses and the masses will support all classes above them.