Other than the expected reactions of both political parties to Paul Ryan’s selection as Mitt Romney’s running mate, there’s not much else in the news. And, in fact, I had no intention of mentioning that subject today at all. However, while scanning Drudge I found an article by Steve Schultze, Bill Glauber and Craig Gilbert of the Milwaukee Journal Sentinel that set me to typing.
According to the author’s, when asked about Ryan’s becoming Mitt’s choice, Milwaukee’s Democrat Mayor Tom Barrett said the policies of Romney and Ryan "are based on a flawed economic theory, a trickle-down economic theory that takes us back to the past."
Now, I’m not an economist by any measure and except for required college courses have no formal knowledge at all, but nonetheless I believe that the fundamentals of “trickle-down” theory indeed do work, because they’re nothing more than common sense.
I think even the dimmest Dem would be able to grasp the fact that if businesses grow significantly, they have to hire more people whether they want to or not, they also require more materials and supplies, they need more services provided, and depending on the trade they’re in, are likely to require more physical space, vehicles, fuel, power of different kinds, and as the list of expenditures increases, the entire economy expands as well because the same scenario repeats itself across the business spectrum.
If you take the other route, however, which is where we are right now, where government inhibits growth, threatens increased taxes and regulates to the extent that businessfolks become fearful and unwilling to invest, you not only get stagnation, the entire nation becomes buried under trillions of additional debt whereas its income has so significantly decreased.
So, I think perhaps the time has come where politicians ought to stop and think before making ridiculous statements and trying to undo truths for self-serving reasons. And what’s even more ridiculous is trying to make the point that its government that should control the economic spectrum, because once politician’s get their hands on a buck, it not only won’t grow…you’ll never, ever get a penny back.
That’s it for today folks.
Adios
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