Saturday, October 13, 2007

Morning in America (Finally!)

Critics of the "supply side economics" employed to justify President Reagan's tax cuts sometimes refer to the idea as "trickle-down economics" (Reagan's opponent in the 1980 Republican primary, George H.W. Bush, called it "voodoo economics"). But now middle-income Americans are finally seeing the benefits - The Onion reports "Reaganomics Finally Trickles Down to Area Man:"
Twenty-six years after Ronald Reagan first set his controversial fiscal policies into motion, the deceased president's massive tax cuts for the ultrarich at last trickled all the way down to deliver their bounty, in the form of a $10 bonus, to Hazelwood, MO car-wash attendant Frank Kellener...
The [hilarious!] article details the path of the $10, and has reactions from Arthur Laffer, Ted Kennedy and Hank Paulson.

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