Loading...

Alan Greenspan says "Trickle Down" Reaganomics failed

16,032 views

Loading...

Loading...

Transcript

The interactive transcript could not be loaded.

Loading...

Loading...

Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Uploaded on Dec 17, 2009

The bottom line for this video is that Alan Greenspan says...and the former Comptroller of the US Alan Walker agrees...that smaller tax increases early result is FAR FAR less debt down the road thanks to the mathematical miracle of compounding.
Imagine if we had no Reagan tax cuts. Imagine if we had no Bush tax cuts. Imagine if the few percent that Clinton raised taxes. The result would be the dropping of the debt as we see it today. Reagan and Bush's tax cuts hurt us in the long run. Their argument at the time was that the tax cuts were given to people who make the jobs. Well as we see now this is just not the case. So when Alan Greenspan says that taxes need to be part of the solution then he is saying that the tax decrease he so vigorously fought for was the wrong path to take because we had a problem then as well. If we would have had the mathematics of compounding working for us with Clinton's tax increase and an additional tax for those people who never did make jobs for us in the first place...and never had the nightmare of Reaganomics... we would be economically so much better now.

So....thanks for NOTHING Reagan and Bush. No...thanks for LESS THAN NOTHING and that is massive debt. The old line is...you can pay us now or you can pay us later. We are paying later...and proving that the economic times of Reagan and Bush were artificially improved by the things we will pay for now.

Loading...

When autoplay is enabled, a suggested video will automatically play next.

Up next


to add this to Watch Later

Add to

Loading playlists...