It was at about the 27 minute mark in debate #1 that she began. By minute 28 Clinton was blaming the 2008-2009 recession on this thing progressives call "trickle down." By that she means that her opponent only wants to help the rich, and maybe a tiny bit will trickle down to the poor folks.
"Trickle down" is supposed to be a pejorative, and progressives have been using it off and on for over a century. It's a fiction invented to convince voters that a politician wants to help the little guy and hurt the big guy. We all would like to help the little guy. That particular trait is built into the American character. But it takes a certain type of person to want to hurt the big guy, i.e., the rich. Unfortunately, that trait is common to a lot of Americans, too. And politicians tap into that. They try to turn it into a good trait by combining the two. Sneaky.
Back to the point. Thomas Sowell mansplains how progressives have it exactly backwards in Trickle Down Theory and Tax Cuts for the Rich. Here's a key part:
The very idea that profits “trickle down” to workers depicts the economic sequence of events in the opposite order from that in the real world. Workers must first be hired, and commitments made to pay them, before there is any output produced to sell for a profit, and independently of whether that output subsequently sells for a profit or at a loss. With many investments, whether they lead to a profit or a loss can often be determined only years later, and workers have to be paid in the meantime, rather than waiting for profits to “trickle down” to them. The real effect of tax rate reductions is to make the future prospects of profit look more favorable, leading to more current investments that generate more current economic activity and more jobs.
Too bad they can't figure out that making it easier for people to make money will benefit everyone. The risk takers will be rewarded for their courage and skill. (For heaven's sake, Mark Cuban -- Shark Tank star, billionaire, and current Clinton favorite Trump hater -- should know that.) And the little guy will have more income opportunities. He may even want to become an entrepreneur himself. Hey, call Mark Cuban.
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