Mitt Romney’s Trickle -Down Government Nonsense

by Nomad

Mitt Romney's use of a new catch-phrase "trickle-down" government deserves a closer look. What does he mean? And why are his ideas about "trickle-down" downright wrong.

Trickle-Down
Maybe you heard it too. At first, I thought I had mis-heard what he had said. 

Near the end of last debate we heard Mitt Romney say:

This is the way we're going to create jobs in this country. It's not by trickle-down government, saying we're going to take more money from people and hire more government workers, raise more taxes, put in place more regulations. Trickle-down government has never worked here, has never worked anywhere.

In case you missed it, “trickle-down government” is a new catch-phrase that Romney has deploying at every possible occasion. Here’s another example in the first debate:

The president has a view very similar to the view he had when he ran four years, that a bigger government, spending more, taxing more, regulating more — if you will, trickle-down government — would work.

In one speech in Colorado, he clearly put pedal to metal and came out chattering like a manic shopping channel salesman:

”I saw the president’s vision as trickle-down government, and I don’t think that’s what America believes in….We have very two different courses for America – trickle-down government or prosperity through freedom. And trickle-down government that the president proposes is one where he will raise taxes on small business….

“We’re going to have a stronger America with more jobs, rising incomes, moderated prices – that’s a very different path than one with trickle-down government…Under trickle-down government, you have the president saying – well, you remember in his last campaign, that under his policies of energy, that prices of energy would necessarily skyrocket…

“The Congressional Budget Office says that by the end of a four-year period, if he were to be re-elected, trickle-down government would lead to a setting where we would have $20 trillion in debt…Trickle-down government will not create the jobs Americans need.Trickle-down government will not bring down the cost of energy. Trickle-down government will not allow incomes to rise…”

Well, the reasons for this rhetorical strategy are clear. By now most intelligent voters have caught on to the fact that the whole trickle- down theory has been pretty thoroughly discredited. Most people have understood that rewarding the super wealthy has not led to an increase in jobs. In fact, much of the money derived from the Bush tax cuts was apparently stowed away in offshore accounts in the Cayman islands or in Swiss banks. If the trickle-down theory actually worked, then we would have seen some sign of its success after ten years. 

So Romney’s idea? Continue with the same policy but re-frame the debate by changing the catch-phrases. Now it’s trickle-down government.