We Need A New Name For "Trickle Down Economics"

We Need A New Name For "Trickle Down Economics"
AP Photo/LM Otero

In the 1980s, when supply-side economics emerged as a competitor to Keynesian macroeconomic thought, it was decried by the Keynesians as “trickle-down” economics. Art Laffer's prescription of reductions in marginal income tax rates to promote economic growth was derided as “trickle-down” tax cuts. Today the “trickle down” sound bite is routinely used by congressional advocates of big government in both political parties to mock attempts to enact tax-cut and deregulatory legislation.

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