The Suck-Up Theory of Economics
The trickle-down theory claims that money given to the rich
will eventually trickle down to the poor and middle class.
That theory has failed spectacularly:
The more realistic alternative is the suck-up theory:
a dollar given to the poor or middle class will be sucked up
by the rich within a week. Therefore, the best stimulus to the economy
as a whole comes from money pumped in at the bottom, not the top.
Money given to the rich circulates among the rich.
Any money that trickles away trickles to offshore banks
and outsourced jobs.
The only local jobs generated by the rich
are dead-end, low-paying service jobs.
The only good jobs created by large corporations
were created by poor entrepreneurs who became rich,
despite the nearly insuperable barriers set up by the rich.
Another metaphor promulgated by the rich is
“A rising tide raises all boats.”
That may be true, but the tide comes up from the bottom, not the top.
Copyright ©2008 by John F. Sowa.