As a fledgling economist, I always found the concept of "Reganomics", or "Trickle-down", "supply side" economics to be a rather perplexing enigma. While admittedly these supply siders make a compelling argument that, logically speaking, makes sense on a piece of paper, it's pretty clear that those theories don't actually hold water when they're actually applied in the real world. And I think we all know why that's the case.
I ran across this video this weekend, and I wanted to share it, along with some other information that I've come across regarding the growing income gap here in America. As mentioned before, this is a subject that I've actually done a pretty decent amount of research on, and even wrote a rather detailed paper about for one of my economics classes in college (which I should really try to find, since it had some great information in it (if I do say so myself).
Unfortunately, the video is rather partisan... and though Republicans are the typical champions for Reganomics and giving tax cuts to the wealthy, Democrats have been just as guilty for playing into this charade as the Republicans have, if to a slightly lesser extent. And while Obama's plan for reducing the deficit (which is NOT the same as the debt, by the way) -sounds- like a lot more compassionate and reasonable plan than Ryan's, we should really know by now that Obama's not going to do a damn thing that he says he's going to do, so I personally aint going to hold my breath.
Anyway, I digress, here's the video and article:
Separate but unequal: Charts show growing rich-poor gap
I'll see if I can't find that paper that I wrote and upload it later.