In regards to the recent op-ed by Thomas Sowell, his column on trickle-down economics being a “lie” is, itself, largely composed of such. Perhaps he assumes that newspaper readers are hard-copy-bound Luddities that lack the tech-savvy to conduct a five-minute online search. And five minutes, my friends, is all that it takes. The only thing he gets right is that nobody in their right mind proposes “trickle-down” economic theories ... in those exact words, at least.
To quote David Stockman, Ronald Reagan’s budget director: “It’s kind of hard to sell ‘trickle down,’ so the supply-side formula was the only way to get a tax policy that was really ‘trickle down.’ Supply-side is ‘trickle-down’ theory.”
Proponents says “supply-side;” opponents say “trickle-down.” Sowell cannot be unaware of this, but apparently he has no ethical qualms about leaving his readers in the dark when it suits his politics.
What are supply-side/trickle-down economics? The theory is that if you lower taxes on corporations and the rich, the money saved by the elite with translate into goods and services becoming cheaper and more plentiful. Whether this works or simply results in a banking boom in the Cayman Islands is a topic for another day.
If Sowell has never seen a proponent of trickle-down/supply-side policies, then I suggest he install a mirror in his bathroom.
There must be another conservative economic columnist The Advocate could feature, perhaps even a local writer. I do not think he’s fit for the news, let alone Louisiana.