What is Trickle-Down Economics?
“Trickle down” is of course a disingenuous misnomer invented by the left to stigmatize conservative supply-side economic policies. It implies favoring the rich—that doing so will “trickle down” to everyone else. Nonsense. Conservatives don’t care any more or less about the rich than do liberals. The point for conservatives is not to help the rich, but to limit the harm done to incentives by tax policy so individuals have greater opportunities to become rich. President Obama misrepresents supply-side economics and then goes on to misinform his audience that it’s never worked. People are entitled to their own opinions, but they’re not entitled to their own facts. Every time supply-side economic policies have been tried, tax rate reductions were applied to every income group — lower-income, middle-income, and upper-income alike — giving everyone a better shot at success. This is true regarding supply-side policies of the 1920s, 1960s, 1980s and 2000s. Economist Thomas S...