Except as a campaign hate line, no one thinks Trickle Down Economics worked. If anything, it’s chief effect has been a massive up-flow of wealth to those who hardly need it.
To address this critical and potentially explosive situation, we need a new economic model — a fancy academic justification for a new strategy that favors bringing money justice back down to our streets! It’s simply past the time for the brains of change to build us all better economic equality trap.
I favor a multi-step roadmap toward something called Pull-Back Economics. Such an economic strategy for re-establishing money justice (which makes this idea PBJ!), has yet to be outlined, but it’s logic seems sweet!
We simply need to show that when the consumers and buyers of capitalism are treated fairly, they enjoy the benefits of capitalism in reasonable proportion to their need to be in the game of financial success. Even the best of the wealthy won’t enjoy a teeter-totter of there is no up and down balance. Pull-Back Economics would provide the credibility for this truth to be once again understood.
Reagan pulled the wool over the nation’s eyes with greedy selfishness; it might be time for a progressive HilLiz (think either Hillary or Ms. Warren!) to write her own script to uncover our visions.
A quick example of the idea and need in action: Pull-Back Educational Debtlessness! That’s debt-LESS-ness, not indebtedness.
In 2014, America’s Billionaire Boys – if you believe Forbes – increased their wealth by some $270 billion. In just one capitalist season.
Or put another way, they gained an amount equal to have of the country’s entire student debt in one year, over and above the too much they already had.
President Obama – thanks O Glorious One!! – has suggested one way to effectively counter this. He wants the nation to offer free community college. Except it is just a proposal going forward, and it only works if his recommendation can be passed; and, of course, if the banking and finance interests don’t just shift the costs of this effort back to us under the disguise of these same conservatarian foolery that protects trickle down failures.
With a credible Pull-Back Economic model, we can be more direct — and act more like a dentist during an extraction! We simply need to establish that half of the GROWTH of billionaire booty for two years goes directly to paying down student debt. Then th same for a second year.
And magically, no more student debt. In that time – as community college becomes free – we would have taken a huge leap toward righting the academic economic foolishness that underlies the Reagan and Bushtakes.
I’m telling you, come up with some thinking like this and I might for the first time willfully volunteer to enroll in an economics class again — a Pull-Back Econ class!