‘Trickle-down’ worked for Reagan
01/07/2014 1:10 PM
01/07/2014 11:31 AM
Re “Income gap widens, leaving most people behind” (Editorials, Jan. 3): This editorial contends that "trickle-down economics” is a dangerous myth, but President Ronald Reagan’s trickle-down policy worked. Reagan reduced business taxes and businesses thrived. The country recovered from a recession. “Reaganomics” was ridiculed, but the economy grew at 7 percent and jobs became widely available. The country is now stuck at 3 percent growth, five years after President Barack Obama's trillion-dollar stimulus package. We've been told that a 7 percent unemployment rate is good. Many people who kept their jobs are having their hours cut because of Obamacare. How can today’s housing market maintain when so many are without good incomes or jobs? History shows that government programs often have unintended consequences, such as how increasing minimum wage seems to have doubled the low-income unemployment rate.
-- Greig Nakamoto, Lincoln
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