Hey, Shinola-for-Brains. You're right about one thing. It is an old theory. It's called CAPITALISM. Maybe you should look into it.The "old" theory of "trickle down" economics worked well in the "old" economy.
The trouble is, with Dubya's "new" GLOBAL economy, the trickle-down effect can be expected to stimulate growth, prosperity and employment in Mexico, India, China, etc. etc. The American People, however, will be left footing the bill for the increased Trade and Budget Deficits and a skyrocketing National Debt.
I couldn't disagree with you more. America will benefit more from whatever global economic growth occurs (and I believe there will be a lot) than any other country.
The trouble is, with Dubya's "new" GLOBAL economy, the trickle-down effect can be expected to stimulate growth, prosperity and employment in Mexico, India, China, etc. etc. The American People, however, will be left footing the bill for the increased Trade and Budget Deficits and a skyrocketing National Debt. How does a U.S. tax cut help Mexico, India, China and at the same time hurt the U.S.? Trying to follow your logic.