Hard To Sell
September 2, 2012 § Leave a comment
“It’s kind of hard to sell ‘trickle down,’ so the supply-side formula was the only way to get a tax policy that was really ‘trickle down.’ Supply-side is ‘trickle-down’ theory.”
- David Stockman, Ronald Reagan’s budget director, December 1981
- Source: The Education of David Stockman
- Context: Republicans have been stressing “supply side” economics in order to avoid the negative connotations associated with trickle down economics. As David Stockman points out, “supply side” economics is in fact another term for trickle down economics.