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November 9, 2009

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Letter: Good economy comes from ‘80s ‘trickle-down’

Tuesday, July 20, 1999 | 9:34 a.m.

The present economic boom is a result of the Reagan tax cuts, and the low unemployment rate is a result of the trickle-down fact. We are all helped by the rich. Something like 50 percent of all income taxes are paid by the top 5 percent of earners. They pay taxes out of proportion to their numbers, they invest and those investments provide jobs and opportunity.

The bottom 49 percent of earners pay no income taxes and can't use tax cuts. Targeted or otherwise the bottom 40 percent of earners are an ever-changing group of people. Most moving up the income scale in this land of opportunity!

Alan, there is something that will kill this golden rain of opportunity that has given us the highest standard of living on the planet, and that is to tax the productive more and give that money to the unproductive. Penalize success and make losing pay, that's the trickle-up theory: tax the successful till they give up.

BILL STEPHENS

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