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December 5, 2009

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Letter: Welcome back to record deficits

Monday, May 12, 2003 | 9:29 a.m.

President Bush, in pushing for the biggest tax cut for the rich since President Reagan's massive, pro-rich tax cut, refuses to consider history's proof: that trickle-down economics does not work. Under the Reagan legislation, the rich benefactors banked their ill-gotten gains instead of making job-producing investments. As a result, the Reagan tax-cut produced the historic, record-breaking deficit, which it took Democrat Bill Clinton to reduce.

So President Bush has already regenerated the deficit. He is on the road to becoming the No. 2 benefactor of the rich. Under Republican presidents, the rich get richer and the poor get poorer.

ORVILLE GOPLEN

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