Libertarians for Ron Paul

Democrat Leaders Back Trickle-down Bail-Out

In 1981, when Ronald Reagan and Jack Kemp proposed across the board cuts in federal income tax rates, they suggested that if people could keep more of their own money, they would work harder and the economy would grow. Democrats attacked the supply side approach as just more “Trickle-down” economics. Even now, as the Bush League Republicans support tax cuts while spending money like drunken Democrats, Sen. Obama and others still accuse them of believing in the “Trickle-down” theory.

The bail-out of big financial institutions proposed by President Bush has been supported by Sen. Obama and other Democrat leaders, who say that saving Wall Street will save Main Street. This seems to indicate that when it comes to taxpayer funded bail-outs of well-connected but otherwise incompetent financial managers, the Democrats are now OK with Trickle-down bail-outs.