Thursday, October 16, 2008
Obama's Amazing Trickle Up Theory
"It's not that I want to punish your success. I just want to make sure that everybody who is behind you, that they've got a chance for success too. My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody. I think when you spread the wealth around, it's good for everybody."
I find this very odd. Obama is on record as blaming the current economic meltdown on the "trickle down economics" of the Bush administration.
Trickle-down economics, as you probably know, is the idea that if the government allows the relatively wealthy to keep what they earn, this will result in job-creation and thus will benefit the relatively poor.
Here Obama puts forth the theory that if the government takes money from the rich and gives it to the poor, it will benefit the rich.
I guess there would be some sort of gonzo multiplier effect, which would not occur if Joe the Plumber spent his own earnings himself. Why don't we just take all of Joe's earnings from him, so he'll become stinking rich?
BTW, I love Joe's conduct throughout this discussion. Though courteous and unassuming, he is not at all cowed by the Great Man's presence. More important, he firmly insists that his question be answered. This is America at its best, an America that may soon come to an end.