Thursday, April 6, 2006

Waterfall Economics

When, I wonder, will the struggling workers of this nation awaken to the simple fact that they are being robbed and impoverished—not merely by their government, but by their society? How many netless falls, failures, gruesome reversals, and arrogant flights of injustice will be required to rouse this sleeping giant of a once-great people into a purgative and restorative anger?

Perhaps you've read about one of the findings that has occasioned this little outburst. Not only are the rich getting richer in the lap of the neocon Congress and the King from Crawford, they are getting orgiastically richer:

According to the study, taxpayers with incomes greater than $10 million reduced their investment tax bill by an average of about $500,000 in 2003, and their total tax savings, which included the two Bush tax cuts on compensation, nearly doubled, to slightly more than $1 million.

But the best part of this report was from the fellow who thought that all this largesse to the extra-large wasn't enough:

Stephen Entin, president of the Institute for Research on the Economics of Taxation, a Washington organization, told the Times that the tax cuts did not go far enough because the more money the wealthiest had to invest, the more that would go to investments that produce jobs.

You see, that's the whole problem for the supply-siders: trickle-down isn't enough of a solution. It takes a waterfall; and no doubt Mr. Entin fully expects to be among those standing underneath.

As for the rest of us, we'll be in our respective barrels, taking the plunge over the edge.

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