Category Archive '“Trickle-Down Economics”'

28 Oct 2014

Maybe Corporations Really Do Create Jobs After All

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HillaryTakesItBack

Hillary Clinton’s remarkable denial that corporations create jobs in the course of a campaign speech for Martha Coackley in Massachusetts last Friday produced sufficient mockery and loud guffaws that Hillary was yesterday at pains to revise and extend her remarks.

Daily Mail:

Hillary Clinton tried her best on Monday to walk back her controversial economic body-slam from a speech on Friday, explaining away her claim that it’s not ‘corporations and businesses that create jobs.’

The talking point three days later: ‘So-called trickle-down economics has failed. I short-handed this point the other day, so let me be absolutely clear about what I’ve been saying for a couple of decades.”

“Our economy grows when businesses and entrepreneurs create good-paying jobs here in America and workers and families are empowered to build from the bottom up and the middle out – not when we hand out tax breaks for corporations that outsource jobs or stash their profits overseas.’

But the damage has been done. Conservatives have a new rally cry – ‘Don’t let anybody tell you that it’s, you know, corporations and businesses that create jobs,’ she said – and campaign consultants will have a new advertisement drawn up if Clinton runs for president in 2016.

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Alinsky-ite propagandists like Hillary decry the idea that limiting the percentage of a nation’s economic wealth confiscated and squandered by government leaves more capital available for investment and increases the likelihood that that nation’s economy will grow, and socialists smear the notion that a growing economy raises all boats by applying the derisive term “trickle-down economics.”

When people like Hillary sneer at the idea of capitalistic growth as “trickle-down economics,” they are, in fact, shamelessly denying the obvious history of their own country, the same history which Hillary herself lived through a significant piece of, right along with the rest of us.

Just compare the condition of a working-class family a hundred years ago with the condition of a similiarly-situated family today. In 1914, chances are that a working class family used an outhouse, lighted their home with a kerosene lamp, heated their home with the cookstove in the kitchen, owned no automobile, and (obviously) did not enjoy air-conditioning or computers. It’s actually pretty amazing all the stuff that has trickled down from the once-upon-a-time point when they either constituted fabulous luxuries available only to the rich, or were not yet even existing at all, to becoming routine features of the life of practically everyone.

It was remarked with a certain amount of bemusement, back in 1991, during the Los Angeles Rodney King riots, that, in America, when the poor riot, they leave air-conditioned homes, with computers and color televisions behind, and get in their cars to drive downtown in order to riot.

So-called “trickle-down economics” may not be as speedy in results as rubbing a magic lamp and making a wish, but that kind of economics really has, over just a few generations, made ordinary people richer in many ways than kings and emperors used to be.

The alternative to “trickle-down economics”, of course, is socialism. There are plenty of well-known examples as to just how effective in promoting general economic well-being all the best exemplars of Hillary Clinton’s preferred Robin Hood “Steal-from-the-rich-and-give-to-the-poor” economic philosophy have proven: Argentina, Cuba, North Korea, the late Soviet Union.


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