I read a letter to the editor in the Tribune’s September 29th paper from a proponent of the tax cut for rich and corporations. I don’t think he has ever work with the top 1%. I have and it doesn’t matter what their tax rate is. Every one of them saw cutting employees or reducing salaries, or cutting pensions and perks as steps in putting more money in their own pockets.
One multi-millionaire I liked very much. We ate several meals on his tab. He talked about how good he was to “his people” by keeping them working. When I looked through his finances I saw the net revenue had increased, the employee expenses had been slashed, and his income had grown by the difference.
Ryan may say “CEOs are making enough” but as the title of the Bond movie says ” The World Is Not Enough.” In the 1970s, CEOs made 14 times the salary of their average employee. Today, the ratio may be 100 to 200 to 1. They have been praised and given outrageous salaries because they cut expenses (meaning jobs or raiding pension plans).
If anyone thinks “Trickle Down Economics” works, they should remember what Bush I correctly called it, “Voodoo Economics.” He was right! Tax cuts don’t reduce greed; it increases it. By the Koch Brothers putting an aide in almost every Republican Senator’s and Representative’s office means tax reforms are for the top few, as Warren Buffet said some years ago and I seldom disagree with him.