Bracing against the wind  

Thursday, October 30, 2003

Trickle-up economics

Our economy is failing due to trade deficits. We're buying more than we're building.

It's one thing to buy components overseas, and then reassemble them and provide value - that's positive economic behavior. It's another thing if you buy Chinese-made disposable cameras and sell them in retail stores - providing no economic value at all.

Let's be more cautious in our tax-cuts and tax-incentives. We need to promote the sort of businesses that have high GDP/capita and highly profitable exports. Merely tax the industries that are focused on import and resale, the import of luxury products, and products that damage your health. Then we'll use the money for scientific research, education and leadership training.

Alas, trickle-down economics has no basis in reality, but rich men like the sound of it because it reminds them on peeing on the poor.

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