Quick Bako story:
We have family in northwest Bakersfield. Their school district named the elementary schools after space shuttles. So when Endeavor flew over Bakersfield the other day, the kids of Endeavor elementary lined up and spelled out a big “E” on a blacktop, to salute it.
That is because most people are too stupid to understand “supply side” economics.
They think that it means the government GIVES people money and then they are supposed to trickle it down.
What it means is that the government does not TAKE AWAY as much, because the successful business owners can spend it much more wisely creating wealth and then that leads to increased tax income.
They mocked The Laffer Curve (calling it The Giggle-Wiggle) because to them it does not make sense that lower taxes can increase income to the government.
But what they fail to get is that TOO MUCH government and taxes are like a set of brakes on the economy. A 100% tax would generate ZERO income because who would bother to work?
Odumbass in the White House thinks this too.
In a free,division of labor society, with a just government, one man's gain is other men's gain.In such a society, cooperation takes place by means of exchanges, which are strictly voluntary and entered into only in the expectation of gain by both parties. In an exchange, each party gives only in order that he may receive something he values more. Unless both parties expect to gain by it, an exchange does not take place.
Also in such a society, wealth is not static, but increases over the long run. As the capitalists and business owners get richer, the standard of living of the average wage earners also increases.